AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Universal Life Insurance Co., following the San Juan-based firm’s efforts to secure capital through its parent company, Universal Insurance Co., they announced. “The ratings reflect Universal Life’s […]
A.M. Best has kept its negative outlook about Cooperativa de Seguros de Vida de Puerto Rico’s staying power and efficiency, by upholding its Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” remain unchanged.
Despite the ongoing economic issues in Puerto Rico, the domestic property/casualty (P/C) insurers have managed to generate operating profits over the past 10 years, driven primarily by solid and consistent underwriting performance, A.M. Best said in a statement issued Thursday.
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