AM Best Upgrades Credit Ratings of Seguros El Roble, S.A.
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Seguros El Roble, S.A. (El Roble) (Guatemala). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
The ratings reflect El Roble’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).
The upgrading of these ratings reflects El Roble`s consistent capital base expansion and its strongest levels of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), driven by profitability and protected by prudent risk management and a comprehensive reinsurance structure.
El Roble, which was established in 1972, is the largest insurer in Guatemala with a market share of 24.6%. Its portfolio is composed mainly of non-life products (78%), as of December 2025, with the remainder (22%) tailored for the life insurance market. El Roble is owned by Bicapital Corporation, a Panama-based private financial group that has financial services operations, including banking, insurance and asset management in Guatemala, Honduras, El Salvador, the Bahamas, Panama and the United States. El Roble ranks No. 1 in accidents, health, auto and life in Guatemala.
