Aseguradora Mundial Guatemala's rating upgraded to AA-(gtm)
Fitch based the rating on the solid operating performance, wide reinsurance coverage, and on the strength and experience of Grupo Mundial, amongst other factors
Tuesday, July 29, 2008
The rating outlook is Stable. The main aspect that limits the rating is the relatively high portfolio of outstanding premiums, which can create an element of risk with regards to liquidity.
"For the sector's improvement, it will be key to adjust fees for products with high accident rates, as well as more careful subscription"
Central America's leading insurer, Aseguradora Mundial signed an agreement with Swiss Life Network to broaden their cooperation in the region.
The company was no longer offering their policies since April, 2010, and their main asset was a license to operate in the Salvadoran insurance market.
The resulting society will merge Mapfre's operations in El Salvador and Mundial's branches in Costa Rica, Nicaragua, Honduras and Guatemala.
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