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A.M. Best places Atlantic Southern Insurance Co’s ratings under review

1am_best_logoA.M. Best Co. has placed under review with positive implications the financial strength rating of C++ (Marginal) and the issuer credit rating of “b+” of Atlantic Southern Insurance Company in Puerto Rico.

The under review status follows the announcement that Triple-S Vida Inc., a subsidiary of Triple-S Management Corp, has entered into an agreement to acquire ASICO.

“The positive implications reflect the expected benefits ASICO will receive from being a part of a larger organization with access to additional financial and managerial resources,” A.M. Best said.

The acquisition is in the process of approval by regulatory entities.

ASICO’s ratings will be removed from under review following the completion of the transaction and A.M. Best’s further analysis and discussions with management regarding ASICO’s strategic fit within the Triple S organization, A.M. Best said.

Author Details
Author Details
Business reporter with 29 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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