AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a+' of
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect
The company has a diversified book of business, distributed through a mix of traditional and massive channels, such as large regional retailers and banks. Currently, its business portfolio is composed of 52% property/casualty, 32% life, and 16% accident and health. As of
AM Best considers
The 2018 year-end results reflect the better performance of
The company benefits from its integration into the group, gaining operational advantage through the same systems, procedures and ERM practices. The group has demonstrated its support to
Positive rating actions could take place in the medium term if the company is able to reach its desired results, reflecting in a capital base that is able to sustain a balance sheet assessment of strongest. A sharp deterioration in operating performance or a significant weakening of its risk-adjusted capitalization could lead to negative rating actions. The ratings could be downgraded if AM Best determines that
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of AM Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
Evaluating Country Risk (Version
Understanding Universal BCAR (Version
Catastrophe Analysis in A.M. Best Ratings (Version
Available Capital & Holding Company Analysis (Version
View a general description of the policies and procedures used to determine credit ratings. For information on the meaning of ratings, structure, voting and the committee process for determining the ratings and monitoring activities, please refer to Understanding Best's Credit Ratings.
Previous Rating Date:
Date Range of Financial Data Used:
This press release relates to rating(s) that have been published on AM Best's website. For additional rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page.
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