AM Best


A.M. Best Upgrades Mexico National Scale Ratings Following Criteria Procedure Update


CONTACTS:

Alfonso Novelo
Senior Director, Analytics
+52 55 1102 2720, ext. 107
alfonso.novelo@ambest.com

Stefan Holzberger
Chief Rating Officer
+1 908 439 2200, ext. 5380
stefan.holzberger@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

FOR IMMEDIATE RELEASE

MEXICO CITY - OCTOBER 13, 2017 11:20 AM (EDT)
A.M. Best has upgraded the National Scale Ratings (NSR) for 17 Mexico insurance companies following the release of the updated criteria procedure, A.M. Best Ratings on a National Scale, which is in conjunction with the release of the updated Best’s Credit Rating Methodology.

The NSR has been upgraded and the positive outlook maintained for the following companies:

ANA Compañía de Seguros, S.A. de C.V.

— to “a-.MX” from “bb+.MX”

— Previous Rating Date: Feb. 24, 2017

— Date of Financial Data Used: Dec. 31, 2016

Assurant Daños México, S.A.

— to “aa+.MX” from “aa-.MX”

— Previous Rating Date: Feb. 24, 2017

— Date of Financial Data Used: Dec. 31, 2016

Assurant Vida México, S.A.

— to “aa+.MX” from “aa-.MX”

— Previous Rating Date: Feb. 24, 2017

— Date of Financial Data Used: Dec. 31, 2016

BUPA México, Compañía de Seguros, S.A. de C.V.

— to “aa+.MX” from “aa-.MX”

— Previous Rating Date: Aug. 9, 2017

— Date of Financial Data Used: March 31, 2017

Grupo Mexicano de Seguros, S.A. de C.V.

— to “aa.MX” from “a+.MX”

— Previous Rating Date: Dec. 20, 2016

— Date of Financial Data Used: Sept. 30, 2016

Insignia Life S.A. de C.V.

— to “aa-.MX” from “a-.MX”

— Previous Rating Date: Feb. 24, 2017

— Date of Financial Data Used: Dec. 31, 2016

The NSR has been upgraded with a stable outlook for the following companies:

Afianzadora Aserta, S.A. de C.V.

— to “aaa.MX” from “aa+.MX”

— Previous Rating Date: Dec. 22, 2016

— Date of Financial Data Used: June 30, 2016

Afianzadora Insurgentes, S.A. de C.V.

— to “aaa.MX” from “aa+.MX”

— Previous Rating Date: Dec. 22, 2016

— Date of Financial Data Used: June 30, 2016

Afianzadora Sofimex, S.A.

— to “aaa.MX” from “aa+.MX”

— Previous Rating Date: Dec. 21, 2016

— Date of Financial Data Used: Sept. 30, 2016

Armour Secure Insurance S.A. de C.V.

— to “a.MX” from “bbb-.MX”

— Previous Rating Date: July 29, 2016

— Date of Financial Data Used: Dec. 31, 2015

Aserta Seguros Vida, S.A. de C.V., Grupo Financiero Aserta

— to “aa+.MX” from “aa-.MX”

— Previous Rating Date: Dec. 22, 2016

— Date of Financial Data Used: Oct. 31, 2016

CESCE Fianzas Mexico, S.A. de C.V.

— to “aa+.MX” from “aa-.MX”

— Previous Rating Date: Feb. 24, 2017

— Date of Financial Data Used: Dec. 31, 2016

Cesce Mexico, S.A. de C.V.

— to “aa+.MX” from “aa-.MX”

— Previous Rating Date: Feb. 24, 2017

— Date of Financial Data Used: Dec. 31, 2016

El Aguila, Compañía de Seguros, S.A. de C.V.

— to “aaa.MX” from “aa.MX”

— Previous Rating Date: Nov. 16, 2016

— Date of Financial Data Used: June 30, 2016

Grupo Nacional Provincial S.A.B.

— to “aaa.MX” from “aa+.MX”

— Previous Rating Date: Oct. 14, 2016

— Date of Financial Data Used: Aug. 31, 2016

QBE de México Compañía de Seguros, S.A. de C.V.

— to “aaa.MX” from “aa.MX”

— Previous Rating Date: Dec. 16, 2016

— Date of Financial Data Used: Sept. 30, 2016

Quálitas Compañía de Seguros S.A.B. de C.V.

— to “aa-.MX” from “a-.MX”

— Previous Rating Date: June 1, 2017

— Date of Financial Data Used: March 31, 2017

An NSR has been assigned with a stable outlook to:

General de Seguros, S.A.B.

— “aa+.MX”

— Previous Rating Date: N/A

— Date of Financial Data Used: June 30, 2017

An NSR has been assigned with a positive outlook to:

General de Salud Compañía de Seguros S.A.

— “aa+.MX”

— Previous Rating Date: N/A

— Date of Financial Data Used: June 30, 2017

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology .

Key insurance criteria reports utilized:


  • A.M. Best Ratings on a National Scale (Oct. 13, 2017)

  • Evaluating Country Risk (Oct. 13, 2017)

View a general description of the policies and procedures used to determine credit ratings. For information on the meaning of ratings, structure, voting and the committee process for determining the ratings and monitoring activities, please refer to Understanding Best’s Credit Ratings.

This press release relates to rating(s) that have been published on A.M. Best’s website. For additional 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 does not validate or certify the information provided by the client in order to issue a credit rating.

While the information obtained from the material source(s) is believed to be reliable, its accuracy is not guaranteed. A.M. Best does not audit the company’s financial records or statements, or otherwise independently verify the accuracy and reliability of the information; therefore, A.M. Best cannot attest as to the accuracy of the information provided.

A.M. Best’s credit ratings are independent and objective opinions, not statements of fact. A.M. Best is not an Investment Advisor, does not offer investment advice of any kind, nor does the company or its Ratings Analysts offer any form of structuring or financial advice. A.M. Best’s credit opinions are not recommendations to buy, sell or hold securities, or to make any other investment decisions. View our entire notice for complete details.

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