AM Best Affirms Credit Ratings of Atradius Seguros de Crédito, S.A.
AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit Rating of “a+” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of Atradius Seguros de Crédito, S.A. (Atradius México) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Atradius México’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The ratings also reflect Atradius México’s strategic importance to the overall Atradius group, given its leading position within Mexico’s credit insurance segment, its importance as a gateway to Latin America’s insurance markets, good financial flexibility derived from its strong capitalization, supportive reinsurance provided by the group and its seasoned management team. These positive rating factors are offset partially by the intrinsic volatility in the credit insurance market.
Atradius México benefits from its integration within the Atradius group, which allows it to leverage operations on the same practices and procedures, reinsurance, draft facilities and underwriting selection. In addition, its ERM practices show a high level of integration to its immediate parent, Atradius N.V.
