As part of a strategic move aimed at broadening its Puerto Rico products portfolio, MCS announced Wednesday it has created a new subsidiary, MCS General Insurance Agency, to tap into the life and disability insurance market.
As part of its efforts to continue to grow its Medicare Advantage market share on the island, Constellation Health has partnered with local startup, Celero Health Solutions, to enable their enrollment agents with a mobile solution to streamline the end-to-end sales through enrollment process.
Although most insurance carriers in Puerto Rico maintain sufficient capital to support lower bond ratings given their adequate capital positions and manageable exposures to the Puerto Rico municipal bond market, there will be circumstances where rating actions may have to be taken, ratings agency A.M. Best said.
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