AM Best Affirms Credit Ratings of AVLA Perú Compañía de Seguros S.A.

Business Wire

MEXICO CITY--(BUSINESS WIRE)--
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of AVLA Perú Compañía de Seguros S.A. (AVLA Perú) (Lima, Peru). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect AVLA Perú balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The ratings of AVLA Perú also recognize its affiliation and strategic importance to its ultimate parent, AVLA Bermuda Holding Corp Ltd. (ABHC), a financial holding company domiciled in Bermuda that is engaged in insurance operations in Chile, Peru, Mexico, Brazil and the United States. As of March 2026, ABHC had equity of USD 110 million.

The stable outlooks reflect AM Best’s expectation that the company will be able to continue growing its capital base through profitable results, while maintaining its risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). AVLA Perú is a surety, credit and property/casualty insurer that began operations in 2015. The company specializes in surety and complimentary lines of credit insurance, as well as the property line business of engineering. AVLA Perú ranks in the top 10 among Peru’s non-life carriers and top three in the country’s surety segment, based on market share.

AM Best views AVLA Perú business profile as neutral. Since its creation in 2015, AVLA Perú has capitalized successfully on Peru’s guarantee market, which has limited capacity, and become one of the country’s main participants for credit insurance and surety. The company is also growing in the line of engineering. AM Best’s neutral assessment of the company’s business profile reflects the size of its operation and brand recognition within a competitive segment in Peru.

AM Best considers the company’s operating performance to be adequate. AVLA Perú has been able to promote its products in a profitable manner and maintain adequate underwriting performance since 2017, taking proactive steps to manage claims due to market events and developing alternatives for revenue. AVLA Perú’s technical results have been complemented by an active investment strategy that generated good investment results in 2025.

AVLA Perú’s balance sheet strength assessment is very strong given its solid capital base for the risks it undertakes, as reflected in its strongest level of risk-adjusted capitalization, as measured by BCAR. The very strong balance sheet strength assessment also recognizes the company’s capital management capabilities and shareholders’ willingness and proven history of making capital contributions to support AVLA Perú’s growth. A panel of reinsurers supports AVLA Perú’s balance sheet strength level with excellent security.

Positive rating actions could take place if AVLA Perú is able to achieve a consistent upward trend in risk-adjusted capitalization and capital base expansion, underpinned by positive bottom-line results. Negative rating actions could occur if the operating performance of AVLA Perú deteriorates due to further losses to a point no longer supportive of the adequate assessment. Negative rating actions could occur if, in AM Best's opinion, the strategic importance of AVLA Perú to its group decreases significantly or if the consolidated financial strength of the AVLA group deteriorates to a point no longer supportive of the current ratings.

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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.