A.M. Best Comments on Credit Ratings of Quálitas Compañia de Seguros S.A. de C.V. Following Acquisition Announcement in Peru

MEXICO CITY--(BUSINESS WIRE)-- A.M. Best has commented that the Financial Strength Rating of B+ (Good), the Long-Term Issuer Credit Rating of “bbb-”, and the Mexico National Scale Rating of “aa-.MX” of Quálitas Compañia de Seguros S.A. de C.V. (Quálitas) (Mexico City, Mexico) remain unchanged following the announcement that its ultimate parent, Quálitas Controladora S.A.B. de C.V., had entered into an agreement to acquire an insurance company in Peru. The outlook of these Credit Ratings (rating) remains stable.

An acquisition agreement materialized following the company´s Board of Management authorization on Oct. 18, 2018. The transaction is subject to regulatory approval in Peru. The planned acquisition does not alter A.M. Best’s view of the company´s ratings, as its impact is expected to be negligible given the limited materiality of the transaction in terms of premiums and capital within Quálitas’ operations.

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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

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Source: A.M. Best