MAPFRE Fianzas receives excellent ratings from AM Best
- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings for both MAPFRE Panamá S.A. and MAPFRE Fianzas, S.A., reflecting their strong balance sheet strength and operating performance.
- The ratings outlook for both companies remains stable, indicating confidence in their financial sustainability despite challenges.
- These ratings underscore the companies' importance within the MAPFRE group and their ongoing ability to navigate competitive market dynamics.
The recent affirmations by AM Best of the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings for MAPFRE Panamá S.A. and MAPFRE Fianzas, S.A. highlight the resilience and strategic importance of these companies in their respective markets. In Panama, MAPFRE Panamá is recognized for its strong balance sheet, operating performance, and effective enterprise risk management, enjoying a favorable outlook despite competitive pressures in the property/casualty sector. Furthermore, improvements in their technical results and adherence to claims containment strategies reflect their financial stability amidst rising inflation and claims frequency since 2021. In Mexico, MAPFRE Fianzas, S.A. has also received an excellent rating due to its strong financial performance and strategic alignment with the MAPFRE group. Its strong operational performance is supported by a solid reinsurance program, despite challenges such as limited market share in the surety market and a slowing economy. Risk-adjusted capitalization remains strong, largely due to consistent profitability and effective capital management practices. Both companies play a vital role within the MAPFRE S.A. group, providing essential services and contributing to overall synergy and operational efficiency. They are expected to maintain their ratings unless there are significant declines in their operational performance or capital adequacy at the group level. This stability is crucial for their competitive positioning in the insurance market moving forward.