AM Best Affirms Credit Ratings of Austral Resseguradora S.A. and Austral Seguradora S.A.
The ratings reflect Austral’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Austral Re is registered as a local reinsurer in
Partially offsetting these positive rating factors is Brazil’s highly competitive (re)insurance market as home-grown and global (re)insurers continue to vie for market share. In addition to the highly competitive market conditions, Austral also must weather significant macroeconomic challenges in
AM Best will continue to follow Austral’s operating performance, risk-adjusted capitalization and the execution of its business plan and risk management program. Factors that could lead to positive rating action include a sustained trend of very strong risk-adjusted capital, superior results when compared with its peer group over the medium term and strong brand recognition in
This press release relates to Credit Ratings that have been published on AM 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 AM 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 AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Source: AM Best
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