AM Best Revises Outlooks to Positive and Affirms Credit Ratings of Interplus Re Limited
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Interplus Re Limited (Interplus) (Barbados).
The Credit Ratings (ratings) reflect Interplus’ balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The positive outlooks reflect AM Best’s expectations that Interplus will continue strengthening its capital base, through prudent capital management and profitable results, to sustain its business plan to maintain current rating levels.
Interplus is a reinsurance company incorporated under the Laws of Barbados on Aug. 11, 2021, as a Class 2 License Insurance Company. Interplus is 98% owned by INTEHO Limited, based in Barbados. Interplus offers reinsurance products mainly focused on property business, which accounts for almost 65% of its gross written premium portfolio, followed by surety and credit lines (14%), life and health (8.8%), construction and engineering (7%) and the remaining (less than 4%) in marine, aviation, and transport. More than two-thirds of the businesses underwritten by Interplus originates in Latin America and the Caribbean, with moderate concentration in Ecuador (29% of gross written premium as of December 2025). The remaining 28% of its portfolio is distributed across Asia (23%), Europe (4%), Africa (1%) and Oceania (less than 1%). Interplus reached USD 66.59 million in gross written premium in 2025, its fourth year of operation. AM Best assesses Interplus’ business profile as limited due to the recent creation of the company and its small size within a highly competitive global market.
