A.M. Best Affirms Credit Ratings of Assurant Daños México, S.A. and Assurant Vida México, S.A.
The ratings reflect ADM’s and AVM´s balance sheet strength, which
The ratings of
In 2017,
In 2017, AVM’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remained at strongest levels mainly supported by positive bottom line results. Despite adjustments to the operating expense structure of the company, operating performance remains at adequate levels as reflected by a return on assets of 3.8% in 2017. Furthermore, the subsidiary has begun to reduce its dependence on capital injections from its group.
Factors that could lead to positive rating actions for
Positive rating factors that could lead to an upgrade for AVM’s ratings are sustained improvements in underwriting results that continue to strengthen its capital base and reduce its dependence on capital support from its group. Negative rating factors that could result in a downgrade include material deterioration in underwriting performance that results in a decline in risk-adjusted capitalization.
Negative rating actions also will occur if A.M. Best’s considers that parental support or strategic importance to its group for both subsidiaries deteriorates.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. 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:
- A.M. Best’s Ratings On a National Scale (Version
Oct. 13, 2017 ) -
Available Capital and Holding Company Analysis (VersionOct. 13, 2017 ) - Catastrophe Analysis in A.M. Best Ratings (Version
Oct. 13, 2017 ) - Evaluating Country Risk (Version
Oct. 13, 2017 ) - Understanding Universal BCAR (Version
Oct. 13, 2017 )
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:
Feb. 24, 2017 (FSR and Long-Term ICR);Oct. 13, 2017 (NSR) - Date of Financial Data Used:
Dec. 31, 2017
This press release relates to rating(s) that have been published on
While the information obtained from the material source(s) is believed to be reliable, its accuracy is not guaranteed.
A.M. Best’s credit ratings are independent and objective opinions, not statements of fact.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Source:
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