AM Best gives an “A” (excellent) rating for its compliance capacity and financial solvency
The prestigious credit rating agency of the insurance industry, AM Best affirmed that the Financial Strength Rating (FSR) of A (Excellent) and the Issuer Credit Rating (ICR) Long-Term of “a +” (Excellent) for the operating subsidiaries rated MAPFRE SA (MAPFRE). Also, your outlook for these Credit Ratings is stable.
These ratings reflect the strength of MAPFRE’s balance sheet, which AM Best values as very solid, in addition to the solid operating performance, favorable business profile and adequate comprehensive risk management (ERM).
But, who is AM Best?
The AM Best agency is an independent global entity that assesses the financial strength and credit quality of insurers. AM Best’s opinion and rating arises from rigorous analysis carried out on insurers that includes the evaluation of financial books, operating performance, business profile and risk management, among other factors. Taking into account the qualification of the insurer when hiring its products and services is something that provides security to its clients about their ability to pay.
Why is this rating important?
The classification of excellence gives policyholders the security of being in a solvent company, providing the certainty that in the event of a catastrophe the company will respond according to the type of policy that each one has selected.