MAPFRE maintains credit rating strength
A.M. Best, the world’s oldest and most authoritative insurance rating and information source, recently affirmed the financial strength rating of “A” (Excellent) of the MAPFRE PRAICO Group and its affiliates, confirming their financial strength, company officials announced Wednesday.
MAPFRE PRAICO Insurance Co., MAPFRE Preferred Risk Insurance Co. and MAPFRE Pan American Insurance Co. make up the group.
The ratings reflect MAPFRE’s solid capitalization and operational performance, as well as its leadership on the island. Other elements that fueled the positive rating include good subscriber levels, consistent revenue stemming from the group’s investments as well as its participation in MAPFRE S.A., Spain’s largest insurer.
In 2007, A.M. Best increased Grupo MAPFRE PRAICO and its member companies’ issuer credit rating to “A+,” from “A.” Furthermore, it granted an “A-,” or excellent rating, to MAPFRE LIFE that same year.