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Concurrently, AM Best has affirmed the NSR of“ aaa.MX”, the Financial Strength Rating of A- and the Long-Term ICR of“ a-” of Aseguradora Insurgentes, S.A. de C.V., and its sister company, Aseguradora Aserta, S.A. de C.V., which are the main subsidiaries of GFA. In January 2017, AISA and Aserta were authorized to operate as insurances entities under a seguro de caución license,.
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AM Best has affirmed the Financial Strength Rating (FSR) of B++ (Good), the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” and the Mexico National Scale Rating of “aa+.MX” of Aserta Seguros Vida, S.A. de C.V., Grupo Financiero Aserta (ASV) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect ASV’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The ratings reflect ASV’s integration into Grupo Financiero Aserta, S.A. de C.V. (GFA) in terms of operations, capital support, business infrastructure and ERM. Mitigating these positive factors are the challenges associated with being a newer life insurance company and volatility in bottom-line results that are inherent in a recently created insurer.
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AM Best Affirms Credit Ratings of Grupo Financiero Aserta, S.A. de C.V. and Its Main Subsidiaries
December 10, 2020 GMT
MEXICO CITY (BUSINESS WIRE) Dec 10, 2020
AM Best has affirmed the Mexico National Scale Rating (NSR) of “aa-.MX” and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of Grupo Financiero Aserta, S.A. de C.V. (GFA). Concurrently, AM Best has affirmed the NSR of “aaa.MX”, the Financial Strength Rating of A- (Excellent) and the Long-Term ICR of “a-” of Aseguradora Insurgentes, S.A. de C.V. (AISA) and its sister company, Aseguradora Aserta, S.A. de C.V. (Aserta), which are the main subsidiaries of GFA. The outlook of these Credit Ratings (ratings) is stable. All companies are domiciled in Mexico City, Mexico.