Asia Capital Reinsurance | Best Insurance in Singapore

Asia Capital Reinsurance (ACR): Leading the Transformation of Asia’s Reinsurance Landscape

Asia Capital Reinsurance Group Pte. Ltd. (commonly known as ACR) is a Singapore-based reinsurance company that once stood as one of the most prominent independent reinsurers in the Asia-Pacific region. Established in 2006, ACR was designed to fill a significant gap in the Asian reinsurance market — a gap that existed between global giants and smaller regional insurers.

Headquartered in Singapore, Asia Capital Reinsurance built its identity as the first pan-Asian independent reinsurer. Its main mission was to provide customized reinsurance solutions to insurance companies across Asia, the Middle East, and North Africa.

The company specialized in property, casualty, engineering, marine, aviation, and catastrophe reinsurance, among others. Through its regional presence, ACR aimed to provide both risk-sharing and capacity-building solutions that would help local insurers manage large and complex risks efficiently.

With a clear vision to be “Asia’s reinsurer of choice,” ACR combined local expertise with international best practices. Its dedicated teams across various underwriting divisions maintained close partnerships with clients, focusing on understanding the unique risks of emerging Asian markets.

Over time, Asia Capital Reinsurance became a name synonymous with innovation, professionalism, and deep understanding of Asia’s insurance ecosystem.

History & Background

Asia Capital Reinsurance Group was founded in 2006, marking a significant milestone for the insurance industry in Asia. The company’s creation was supported by a group of influential investors, including Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, and other financial institutions from across the region.

At the time, there was no dedicated reinsurer focusing solely on Asia’s growing markets. Most Asian insurers relied heavily on Western reinsurers, which often lacked deep insight into the specific risk environments of Asian economies. ACR entered the market to change that dynamic — by offering regional expertise, localized knowledge, and tailored reinsurance solutions.

The company’s establishment represented a “first of its kind” initiative — an independent reinsurer created by Asians, for Asia. Within a few years, ACR became a strong player in regional risk management, supporting industries such as energy, infrastructure, transportation, and natural disaster recovery.

During its early years, ACR expanded rapidly across Asia and the Middle East. Offices were opened in Hong Kong, Dubai, and Bahrain, strengthening its presence beyond Southeast Asia.

By 2010, the company was managing significant business volumes and had earned recognition from major rating agencies and regulatory authorities. Its focus on Asian catastrophe and specialty risk solutions made it a preferred partner for many primary insurers in the region.

Services & Reinsurance Solutions

Asia Capital Reinsurance provided a wide range of reinsurance products and services to clients in both life and non-life segments. Its portfolio was known for its flexibility, expertise, and commitment to providing long-term support.

1. Property & Engineering Reinsurance

ACR offered comprehensive coverage for property and engineering-related risks, including large-scale commercial properties, industrial complexes, and infrastructure projects. The company specialized in catastrophe excess of loss and risk-specific reinsurance, addressing risks related to earthquakes, floods, typhoons, and other natural disasters common in Asia.

2. Casualty Reinsurance

In the casualty segment, ACR focused on third-party liabilities, general accident insurance, and industrial liability exposures. The company’s casualty division was known for providing innovative coverage structures and fair claims-handling procedures.

3. Marine & Aviation Reinsurance

Asia Capital Reinsurance also offered customized marine hull, cargo, and aviation reinsurance solutions. These services were particularly valuable for regions with expanding logistics, shipping, and aviation industries — sectors that required sophisticated risk management due to complex global exposures.

4. Specialty Reinsurance

ACR became known for its specialty reinsurance products covering niche markets such as energy, agriculture, terrorism, and political risk insurance. This helped clients manage high-value, low-frequency events — crucial for large corporate and government-backed projects.

5. Facultative and Treaty Reinsurance

The company provided both facultative (case-by-case) and treaty (portfolio-based) reinsurance arrangements. Its flexible approach allowed insurers to manage risk effectively depending on the size and nature of their portfolios.

By combining analytical modeling, actuarial science, and regional insight, ACR positioned itself as an expert in Asian catastrophe risk and complex reinsurance structures — something few competitors could match at the time.

Achievements & Ratings

Asia Capital Reinsurance achieved several notable milestones throughout its operational years.

AM Best Rating: In 2014, ACR received a financial strength rating of A− (Excellent) and a long-term issuer credit rating of “a−” from AM Best. This rating reflected ACR’s solid risk-adjusted capitalization, prudent underwriting, and diversified reinsurance portfolio.
Innovation in Risk Solutions: ACR was one of the first reinsurers in Asia to develop dedicated catastrophe risk models tailored for Asian climates. These models helped local insurers assess and manage their exposure to typhoons, floods, and earthquakes with greater precision.
Pan-Asian Presence: The company’s footprint across Asia, the Middle East, and North Africa allowed it to serve a wide array of clients — from small domestic insurers to multinational corporations.
Industry Recognition: ACR was often featured in leading insurance and financial publications such as FinanceAsia and The Business Times Singapore, which recognized it as a pioneer in the Asian reinsurance space.

These achievements reflected not only its operational strength but also its role as a knowledge leader in regional risk management and actuarial innovation.

Acquisition & Current Status

Despite its strong beginnings, ACR’s journey took a different direction in the late 2010s. In December 2019, the company ceased writing new business — meaning it stopped accepting new reinsurance contracts. The decision came amid market challenges, competitive pressures, and strategic realignment.

In March 2020, Catalina Holdings (Bermuda) Ltd., a global leader in legacy (run-off) insurance and reinsurance management, acquired Asia Capital Reinsurance. The acquisition allowed ACR to transition into a “run-off” company — focusing on managing its existing liabilities and fulfilling obligations under previously written contracts.

This shift meant that ACR was no longer actively seeking new clients but instead was committed to servicing existing ones responsibly. Catalina Holdings, known for managing discontinued insurance portfolios, ensured that ACR’s commitments to policyholders and partners continued smoothly.

Today, ACR operates primarily in run-off mode, supported by Catalina’s financial strength and management expertise. The company remains registered with the Monetary Authority of Singapore (MAS) and continues to fulfill its regulatory responsibilities.

Although ACR is no longer expanding its active reinsurance portfolio, it still plays an important role in maintaining market integrity and honoring legacy obligations — a hallmark of professional reliability in the reinsurance sector.

Management & Leadership

Leadership has always played a vital role in shaping ACR’s legacy.

Over the years, ACR was guided by a team of seasoned professionals with decades of experience in reinsurance and financial services. One of the notable figures in its history was Bobby Heerasing, who served as Chief Executive Officer and steered the company during its period of strong growth.

In 2022, Wei-Lyn Loh was appointed as the new CEO of Asia Capital Reinsurance. Her appointment marked a new chapter in ACR’s transition under Catalina Holdings. With her leadership, the company maintained its focus on disciplined management, operational efficiency, and legacy portfolio servicing.

ACR’s management philosophy emphasizes:

Responsible underwriting and risk assessment

Ethical and transparent operations

Commitment to clients and partners even after business restructuring

The leadership team’s continued efforts ensure that ACR upholds its reputation for professionalism and reliability in Asia’s insurance market.

Market Position in Asia

At its peak, Asia Capital Reinsurance was one of the top independent reinsurers in Asia. Its unique market positioning — focusing exclusively on the Asian region — allowed it to compete effectively with global giants like Munich Re, Swiss Re, and SCOR.

ACR’s deep understanding of local markets gave it a competitive edge in designing reinsurance products that fit Asia’s diverse risk landscape. The company’s presence was particularly strong in:

Southeast Asia (Singapore, Malaysia, Indonesia, Thailand)

East Asia (China, Japan, South Korea)

Middle East & North Africa (Dubai, Bahrain, Jordan)

The firm’s approach to client-centric solutions and technical underwriting excellence helped build long-term partnerships with numerous insurers across these regions.

Even though the company is no longer active in writing new business, ACR’s historical impact remains significant. It contributed to the growth of local insurance markets by helping domestic insurers build capacity and confidence to manage large-scale risks independently.

In many ways, Asia Capital Reinsurance’s pioneering model has inspired a new generation of regional reinsurers that continue to serve the continent’s growing insurance needs.

Conclusion: Asia Capital Reinsurance (ACR) is more than just a company — it represents an important chapter in Asia’s reinsurance evolution. From its foundation as the first independent pan-Asian reinsurer to its later transition under Catalina Holdings, ACR’s story highlights the challenges and opportunities of operating in dynamic emerging markets.

Its legacy lies in its contribution to strengthening the regional reinsurance ecosystem, developing local risk expertise, and promoting financial resilience across Asia.

While ACR no longer writes new business, its commitment to servicing existing policies with professionalism and integrity continues under Catalina’s leadership. For many in the industry, ACR remains a symbol of innovation, dedication, and the enduring spirit of Asia’s insurance community.