Today Newpoint Reinsurance Company Limited announced its Audited Results as of 27th May 2025 for the financial year ended 31 December 2024 (FY2024). All figures are in US dollars.
The results show significant growth in GWP (2024: $400.9m, vs 2023: $249.4m), net income (2024: $8.444m vs 2023: $4.720m) and cash and equivalent position (2024: $282.4m vs 2023: $60.6m).
Additional highlights for the full year include:
- Total assets of $768.9m, an increase of 47% compared to 2023 total assets at year end.
- 2024 equity increased by 4.4% to $308m, compared to 2023 equity.
- Newpoint Re has maintained a combined ratio of 85% or less.
- To date, we have paid in excess of $160m in claims since 2019.
The full annual financial statements are available at: Financials – Newpoint Re
Newpoint Re continued to grow its operations globally, based on its chosen strategy of providing flexible, long-term capacity for specialist risks across varied lines. Newpoint Re has low exposure to natural catastrophe risk.
Andrew Bye, executive director of Newpoint Re, said:
“Today, we announce the conclusion of another successful year for Newpoint Re. Our strategy of providing precision backing for specialist and overlooked risks, by establishing enduring relationships of mutual trust and alignment, has been effective since Newpoint’s inception, and we intend to maintain that course.
“The strategic investment to align our underwriting and actuarial resources is paying back well through the development of Underwriting Forecast and Reserving Models, to ensure we write within our available capital. We are strongly capitalised for the business we write and are well set against our peers.
“Our results show strong growth due to the opportunistic nature of the marketplace. We remain resilient and well positioned to take advantage of future market cycles to provide capacity in select, specialist lines, where we identify demand for flexible and custom solutions, which we can deliver on a sustainable basis.
“We expect there to be some levelling out of growth over the course of 2025, in part due to the softening market conditions and new capacity entrants. We seek to balance our global footprint by encouraging the development of opportunities in Europe, the Middle East and Africa. We are also excited to be building our brand equity with more announcements to follow in the coming months.
“Newpoint Re has been a story of entrepreneurial success since we established the company in the late 2010s, and we are pleased to announce another set of robust results today under the IFRS17 Reporting Standard.”