A.M. Best Affirms Credit Ratings of HDI-Gerling de Mexico Seguros, S.A.
The ratings reflect HDI-GM’s balance sheet strength, which
The ratings also reflect HDI-GM’s substantial reinsurance support from its group through
HDI-GM is a subsidiary of
The company’s risk-adjusted capitalization is strong, as measured by Best’s Capital Adequacy Ratio (BCAR), and it has benefited from several capital contributions from the group, aimed to support its growth and to maintain adequate reserves and capital sufficiency. The last capital contribution materialized in 2015.
HDI-GM’s exposure to underwriting risks is limited through its reinsurance agreement with
In 2017, the company reported negative bottom-line results as a result of exchange currency losses, an increase in the loss ratio due to non-recurrent events and volatility in its income statement derived from its small premium retention level. Offsetting this vulnerability is the support from its group through commissions received by ceded reinsurance and by large reinsurance recoveries on claims.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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