KEY RATING DRIVERS
Nacion Reaseguros had an equity base of
Nacion Reaseguros, similar to competitors in the Argentine reinsurance industry, has a short financial history that dates back to the end of 2011, when regulations were enacted allowing only companies domiciled in
The company's investment portfolio has direct ties to the Argentine government, consisting of short- and medium-term investments from the
Nacion Reaseguros accepts premiums only from its related company Nacion Seguros. In Fitch's opinion, Nacion Reaseguros' retrocession program is adequately diversified in a large number of retrocessionaires, using proportional quota share and no-proportional coverage by line of products. In
The Outlook is Stable. Any changes in Fitch's evaluation of BNA's capacity and/or its willingess to support Nacion Reaseguros, would result in changes to the reinsurer's ratings.
Additional information is available at 'www.fitchratings.com'
Global Bank Rating Criteria (pub.
Insurance Rating Methodology (pub.
Dodd-Frank Rating Information Disclosure Form
Fitch Ratings Brasil Ltda.
Praca XV de Novembro, 20 - 401 B,
Source: Fitch Ratings