Eureka Re's A- rating marks milestone for long-term vision, says Holschneider

Specialty reinsurer Eureka Re has secured an A- rating, a key milestone that reflects years of strategic growth and dedication, according to its founder and CEO Gabriel Holschneider.

Speaking at The Insurer TV’s pop-up studio in the Hôtel de Paris during the Monte Carlo reinsurance Rendez-Vous earlier this month, Holschneider highlighted the significance of this achievement.

“It’s a testimony to the many years invested in building the company. We don’t believe in short-term success but in long-term relationships and things that endure,” he said.

The rating opens doors for the reinsurer to enter new markets, with Holschneider revealing the firm is now eyeing jurisdictions that require a double rating.

The company’s ethos, he explained, is built around a bespoke approach to underwriting. “It’s a mirror of our underwriting ethos,” he added, emphasising Eureka-Re’s deep commitment to maintaining strong partnerships and flexibility in a saturated market.

Holschneider also outlined the company’s strategic growth plans, confirming that Eureka-Re is expanding into Asia and seeing new opportunities from the Middle East and North Africa (MENA).

He said, “We are starting to see some new business from MENA, and we’re very active in pushing a global surety play, alongside building out an A&H capability.”

Shifting focus to XS Global, Eureka Re’s sister MGA, Holschneider spoke proudly of its rapid growth.

“XS Global is set to surpass $500mn in premium this year, writing 13 lines of business across over 100 countries,” he shared, noting that the company’s success comes from a different approach to MGAs, with significant skin in the game through its own risk-bearing capital.

When asked about future M&A deals, Holschneider clarified that his approach is more of a “builder’s” strategy, focusing on partnerships with smaller firms rather than large-scale acquisitions. “We partner with like-minded individuals or smaller firms, enhance their market access, and provide succession planning,” he explained.

Looking ahead, XS Global has its sights on further expansion in Asia, with plans to establish a new operation in Singapore and broaden its casualty lines.

“We’re making a big push into A&H and growing our treaty service unit,” Holschneider Osuna revealed, hinting at exciting new developments on the horizon for both Eureka Re and XS Global.

Watch the 7-minute interview to hear more about Gabriel Holschneider’s growth ambitions for both Eureka Re and XS Global.