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Best’s News & Research Service - May 27, 2016 10:46 AM (EDT)

A.M. Best Removes From Under Review and Affirms Ratings of Cooperativa de Seguros de Vida de Puerto Rico

  • May 27, 2016 10:46 AM (EDT)
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Oldwick //BestWire// - A.M. Best has removed from under review with negative implications and affirmed the financial strength rating of C+ (Marginal) and the issuer credit rating of “b-” of Cooperativa de Seguros de Vida de Puerto Rico (COSVI) (San Juan, PR). The outlook assigned to each rating is negative.

The ratings of COSVI reflect its relatively low risk-adjusted capitalization, potential for further spread compression on its interest-sensitive business lines and challenges to sustained premium growth in Puerto Rico’s highly competitive marketplace. The ratings also consider the aggregate excess of loss reinsurance agreement used to support COSVI’s Puerto Rico bond portfolio. Partially offsetting factors include its diversified product offerings, well-established presence in the cooperative and life insurance marketplace in Puerto Rico and its members’ commitment to support the entity’s financial flexibility.

This press release relates to rating(s) 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.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.



Puerto Rico United States Financial Strength Press Release Insurance Caribbean Issuer Credit Rating Best's Credit Rating Action


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