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Annuity reinsurance platform developing faster than the company anticipated

Reinsurance operation records a $2 million quarterly profit after acquisition of Warwick Re

Rating agency monitoring growth of new annuities reinsurance business

The firm’s competitiveness was rated as very strong

After Warwick Re deal, first-quarter earnings fall despite stronger new business production

The company led the US municipal bond insurance market in 2025

The acquisition of Warwick Re on Wednesday came through a company subsidiary

Gross written premiums were $440 million and the present value of new business production was $402 million

Company issues five-year debt service reserve guarantees for the benefit of ABP Acquisitions UK Ltd and ABP Finance Plc of the Associated British Ports Group

Third quarter capital returned to shareholders was $147 million including share repurchases of $131 million

Gross written premiums in the quarter were $132 million, which compares with $95 million in the second quarter of 2023

The agency said the ratings take into consideration the benefits and support AGRO receives from the AGL group of companies