In 2022, the Life re/insurance sector continued to grapple with the ongoing impact of the Covid-19 pandemic, presenting both challenges and opportunities for industry players.

Despite a few established players dominating the market, Barents Re’s strategy focuses on filling gaps in capacity for smaller deals or shares of treaties for ceding companies in regions with good growth prospects. By doing so, Barents Re can offer coverage where established players may not be interested, thereby providing clients with valuable options.
 
Barents Re saw success in two regions with strong growth rates, MENA, and Asia, thanks to partnerships with clients and innovative product development work. We continued to seek opportunities in Europe to work with like-minded insurers to extend our footprint in the region. The saturated markets of the USA and Canada are not of interest.

Ultimately, success in the Life re/insurance sector is determined by several distinguishing traits, such as innovation, technology adoption, and regulatory compliance, in addition to underwriting expertise. Barents Re has incorporated these characteristics into its business model and with its enhanced team is well-positioned for the future, building on a solid year in 2022 and robust plans for the year ahead.