AM Best Affirms Credit Ratings of Reaseguradora Delta, S.A. and Reaseguradora Delta, C.A.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Reaseguradora Delta, S.A. (Delta Panama) (Panama City, Panama) and Reaseguradora Delta, C.A. (Delta Venezuela) (Caracas, Venezuela). The outlook of these Credit Ratings (ratings) is stable.
The ratings of Delta Panama reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).
Delta Panama’s ratings reflect a stable trend in underwriting metrics and profitable results. The company’s operating performance is assessed as strong. While investment income contributes to Delta Panama’s earnings, profitability is fully achieved through technical results in the company’s main business lines, rendering premium sufficiency levels that align well to the strong assessment for the last couple of years. AM Best expects Delta Panama to maintain profitable results that continue strengthening the company's capital base while implementing its growth strategy.
