2022 was a year of achievement for Barents Reinsurance S.A.
Buoyed by solid market fundamentals, our 2022 operating performance was the best ever for the company; gross net earned premiums reached EUR 138.8 million, and the combined ratio was 73%, giving rise to a profitability margin of 8%. All lines of business saw premium growth and produced positive net technical results.
We were particularly pleased by Energy and Life. Additionally, our investment portfolio, invested mainly in cash and short-term bonds, was unimpaired by the turbulence in the financial markets and benefited from rising interest rates.