AM Best has affirmed the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of 'aa' (Superior), and the Mexico National Scale Rating of 'aaa.MX' (Exceptional) of
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Allianz Mexico's strategic importance as a subsidiary of
Allianz Mexico specializes in offering insurance coverages across a broad spectrum of categories in life, property/casualty (P/C) and accident and health. It is focused solely on
Allianz Mexico forms part of the IberoLatAm division of
Operating performance is characterized by consistently positive bottom-line results, derived from the company's well-diversified business portfolio, and financial flexibility in terms of size, capital and reinsurance use. Underwriting practices are sound, and further benefit from the synergies provided by the group through the rest of its financial entities, which has enabled the company to contain operating expenses.
AM Best expects the group's risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), to remain at the strongest level for year-end 2022 and prospectively, supported by strong earnings generation and prudent capital management. The balance sheet strength assessment also benefits from the group's robust asset-liability and liquidity management and prudent reserving practices. Financial leverage and coverage ratios are supportive of the balance sheet strength assessment and financial flexibility is considered excellent due to the group's good access to capital markets.
If there are negative rating actions on the main operating subsidiaries of
The methodology used in determining these ratings is Best's Credit Rating Methodology (Version
Key insurance criteria reports utilized:
Evaluating Country Risk (Version
Understanding Global BCAR (Version
Catastrophe Analysis in A.M. Best Ratings (Version
Available Capital & Holding Company Analysis (Version
AM Best's Ratings On a National Scale (Version
Scoring and Assessing Innovation (Version
View a general description of the policies and procedures used to determine credit ratings. For information on the meaning of ratings, structure, voting and the committee process for determining the ratings and monitoring activities, please refer to Guide to Best's Credit Ratings.
Previous Rating Date:
Date Range of Financial Data Used:
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