Sompo Seguros Mexico earns top credit ratings from AM Best
- Sompo Seguros Mexico, S.A. de C.V. has received an A+ Financial Strength Rating and 'aa-' Long-Term Issuer Credit Rating from AM Best.
- The company reported a return-on-equity ratio of 4.9% in 2023, indicating strong profitability and operational efficiency.
- The stable outlook of the ratings suggests that future changes will depend on the performance of its parent company and market conditions.
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of 'aa-' (Superior) for Sompo Seguros Mexico, S.A. de C.V., indicating a stable outlook. The ratings reflect the company's strong balance sheet strength, operational performance, and effective enterprise risk management. Established in 1998, Sompo Mexico focuses on property/casualty business and aims to grow within the Mexican market, supported by a solid reinsurance program and a diversified client base. In 2023, the company reported a return-on-equity ratio of 4.9%, demonstrating its profitability and operational efficiency. The integration with its parent company, SIH, enhances its operational leverage and risk management capabilities. Future rating actions will likely align with those of SJ, unless there is a significant change in the subsidiary's strategic importance. Potential negative impacts on ratings could arise from capital market volatility or natural disasters, while positive actions may result from improved financial metrics.