Latest news with #ABHC
Business Wire
5 days ago
- Business
- Business Wire
AM Best Affirms Credit Ratings of AVLA Re Ltd.
MEXICO CITY--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of 'bbb+' (Good) of AVLA Re Ltd. (AVLA Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. The ratings of AVLA Re reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). AVLA Re is ultimately owned by AVLA Bermuda Holding Corp Ltd. (ABHC), a financial holding company domiciled in Bermuda that is engaged in insurance operations in Chile, Peru, Mexico, Brazil and the United States. As of May 2025, ABHC had equity of USD 89 million. AVLA Re is considered a new company as it began operations in January 2022, under a Class 3A insurer license in Bermuda. The company currently reinsures business from other ABHC subsidiaries in Chile, Peru, Mexico and Brazil, and plans to reinsure premiums from third parties in the medium to long term. AVLA Re's business profile is considered limited, given the small size of the company and its high degree of competition. The balance sheet strength of the company is considered very strong. AVLA Re has received two capital infusions from its holding company since its creation. AM Best will monitor any capital flows to and from the company to continue assessing the strength of its balance sheet. The company's operating performance is considered adequate and in line with its position as a recently formed company. AVLA Re's premium growth has been prudent, with controlled increments in businesses from subsidiaries in the group. The company's claims experience has been in line with organization's expectations and AVLA Re was able to post positive bottom-line results of USD 5.8 million in its third year of operations. AM Best will continue to monitor the underwriting quality and operating metrics of this building block. AVLA Re's ERM assessment is considered appropriate for its risk appetite and strongly supported by ABHC's back office. AVLA Re benefits from capital support from ABHC, as well as synergies and brand recognition from the group, with which AVLA Re shares experienced management. The stable outlooks reflect AM Best's expectations that AVLA Re will meet its business objectives in terms of operating metrics and capitalization. Negative rating actions could occur if AVLA Re's capital base erodes due to significant capital base deterioration or sustained unfavorable operating results. Negative rating actions could also occur should AVLA Re's importance to the group's strategy lessens in AM Best's opinion. Positive rating actions could occur in the medium term, driven by a consistent, upward trend in operating results, which in turn, strengthens its capital base. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Yahoo
5 days ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of AVLA Seguros de Crédito y Garantía S.A.
MEXICO CITY, July 17, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of AVLA Seguros de Crédito y Garantía S.A. (AVLA Chile) (Chile). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect AVLA Chile's balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management. The ratings also recognize AVLA Chile's affiliation and strategic importance to its ultimate parent, AVLA Bermuda Holding Corp Ltd. (ABHC), a financial holding company domiciled in Bermuda, engaged in insurance operations in Chile, Peru, Mexico, Brazil and the United States. As of May 2025, ABHC had equity of USD 89 million. AVLA Chile began operations in Chile in 2013 as AVALCHILE, before changing its name to AVLA Chile in 2016. AVLA Chile specializes in credit insurance and surety; it ranks first in Chile in surety and within the top three in credit insurance, based on market share. AM Best assesses AVLA Chile's business profile as neutral. The company has redefined its risk appetite successfully through adverse market conditions. In AM Best's view, management's capabilities remain key to adjusting its product offerings amid these evolving market conditions. During the past two years, AVLA Chile's operating performance has been limited by its underwriting results and has followed a downward trend that as of December 2024, resulted in a USD 1.4 million loss. The company's results were impacted by an increase in claims from financial guarantees, which could not be offset by revenue from fees for credit studies, tied to credit insurance policies, in contrast to 2023. The company has taken measures to correct this trend, and as of March 2025, combined ratio has returned to premium sufficiency levels. AM Best will continue to monitor AVLA Chile's results and underwriting quality. AVLA Chile's balance sheet strength assessment is strong given its solid capital base for the risks it undertakes. The strong balance sheet strength assessment recognizes the company's reinsurance dependence, while also taking into account the excellent security level of its reinsurance panel. AVLA Chile benefits from belonging to the AVLA Group, as reflected by the willingness and proven history of capital contributions made by its shareholders to support growth, with the latest one taking place in 2024, equivalent to USD 4.8 million. Positive rating actions could take place if AVLA Chile can show a stable upward trend in risk-adjusted capitalization, underpinned by consistently positive bottom-line results. Positive rating actions also could take place if AVLA Chile is able to demonstrate a consistent upward trend in its bottom-line results, that compares favorably with the adequate assessment. Negative rating actions could occur if in AM Best's opinion, the strategic importance of AVLA Chile to its group decreased significantly, or if the AVLA Group's consolidated financial strength deteriorated to a point no longer supportive of the current ratings. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Inger Rodriguez Financial Analyst +52 55 1102 2720, ext. 108 Alfonso Novelo Senior Director, Analytics +52 55 1102 2720, ext. 107 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of AVLA Re Ltd.
MEXICO CITY, July 17, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of AVLA Re Ltd. (AVLA Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. The ratings of AVLA Re reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). AVLA Re is ultimately owned by AVLA Bermuda Holding Corp Ltd. (ABHC), a financial holding company domiciled in Bermuda that is engaged in insurance operations in Chile, Peru, Mexico, Brazil and the United States. As of May 2025, ABHC had equity of USD 89 million. AVLA Re is considered a new company as it began operations in January 2022, under a Class 3A insurer license in Bermuda. The company currently reinsures business from other ABHC subsidiaries in Chile, Peru, Mexico and Brazil, and plans to reinsure premiums from third parties in the medium to long term. AVLA Re's business profile is considered limited, given the small size of the company and its high degree of competition. The balance sheet strength of the company is considered very strong. AVLA Re has received two capital infusions from its holding company since its creation. AM Best will monitor any capital flows to and from the company to continue assessing the strength of its balance sheet. The company's operating performance is considered adequate and in line with its position as a recently formed company. AVLA Re's premium growth has been prudent, with controlled increments in businesses from subsidiaries in the group. The company's claims experience has been in line with organization's expectations and AVLA Re was able to post positive bottom-line results of USD 5.8 million in its third year of operations. AM Best will continue to monitor the underwriting quality and operating metrics of this building block. AVLA Re's ERM assessment is considered appropriate for its risk appetite and strongly supported by ABHC's back office. AVLA Re benefits from capital support from ABHC, as well as synergies and brand recognition from the group, with which AVLA Re shares experienced management. The stable outlooks reflect AM Best's expectations that AVLA Re will meet its business objectives in terms of operating metrics and capitalization. Negative rating actions could occur if AVLA Re's capital base erodes due to significant capital base deterioration or sustained unfavorable operating results. Negative rating actions could also occur should AVLA Re's importance to the group's strategy lessens in AM Best's opinion. Positive rating actions could occur in the medium term, driven by a consistent, upward trend in operating results, which in turn, strengthens its capital base. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Inger Rodriguez Financial Analyst +52 55 1102 2720, ext. 108 Alfonso Novelo Senior Director, Analytics +52 55 1102 2720, ext. 107 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
AM Best Upgrades Issuer Credit Rating of AVLA Perú Compañía de Seguros S.A.
MEXICO CITY, July 17, 2025--(BUSINESS WIRE)--AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb+" (Good) from "bbb" (Good) and affirmed the Financial Strength Rating of B++ (Good) of AVLA Perú Compañía de Seguros S.A. (AVLA Perú) (Lima, Peru). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect AVLA Perú balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The upgrade of AVLA Perú's Long-Term ICR recognizes its affiliation and strategic importance to its ultimate parent, AVLA Bermuda Holding Corp Ltd. (ABHC), a financial holding company domiciled in Bermuda that is engaged in insurance operations in Chile, Peru, Mexico, Brazil and the United States. As of May 2025, ABHC had equity of USD 89 million. The stable outlooks reflect AM Best's expectation that the company will be able to continue growing and return to profitable technical results, while maintaining its risk-adjusted capitalization. AVLA Perú is a surety, credit and property/casualty insurer that began operations in 2015. The company specializes in surety and complimentary lines of credit insurance, as well as a property line, engineering. AVLA Perú remains in the top 10 among Peru's non-life carriers and top three in the country's surety segment, based on market share. AM Best views AVLA Perú business profile as neutral. Since its creation in 2015, AVLA Perú has capitalized successfully on Peru's guarantee market, which has limited capacity, and become one of the country's main participants for credit insurance and surety. AM Best's neutral assessment of the company's business profile reflects the size of its operation within a small segment in Peru. AM Best considers the company's operating performance to be adequate. AVLA Perú has been able to promote its products in a profitable manner and maintain adequate underwriting performance since 2017, taking proactive steps to manage claims due to market events and developing alternatives for revenue. AVLA Perú's technical results have been complemented by an active investment strategy that generated good investment results in 2024. AVLA Perú's balance sheet strength assessment is very strong given its solid capital base for the risks it undertakes, as reflected in its strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The very strong balance sheet strength assessment also recognizes the company's capital management capabilities and shareholders' willingness and proven history of making capital contributions to support AVLA Perú's growth. A panel of reinsurers supports AVLA Perú's balance sheet strength level with excellent security. Positive rating actions could take place if AVLA Perú is able to achieve a consistent upward trend in risk-adjusted capitalization, underpinned by positive bottom-line results. Negative rating actions could occur if the operating performance of AVLA Perú deteriorates due to further losses to a point no longer supportive of the adequate assessment. Negative rating actions could occur if in AM Best's opinion, the strategic importance of AVLA Perú to its group decreased significantly or if the consolidated financial strength of the AVLA Group deteriorated to a point no longer supportive of the current ratings. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Inger Rodriguez Financial Analyst +52 55 1102 2720, ext. 108 Alfonso Novelo Senior Director, Analytics +52 55 1102 2720, ext. 107 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
AM Best Upgrades Issuer Credit Rating of AVLA Perú Compañía de Seguros S.A.
BUSINESS WIRE)-- AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to 'bbb+' (Good) from 'bbb' (Good) and affirmed the Financial Strength Rating of B++ (Good) of AVLA Perú Compañía de Seguros S.A. (AVLA Perú) (Lima, Peru). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect AVLA Perú balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The upgrade of AVLA Perú's Long-Term ICR recognizes its affiliation and strategic importance to its ultimate parent, AVLA Bermuda Holding Corp Ltd. (ABHC), a financial holding company domiciled in Bermuda that is engaged in insurance operations in Chile, Peru, Mexico, Brazil and the United States. As of May 2025, ABHC had equity of USD 89 million. The stable outlooks reflect AM Best's expectation that the company will be able to continue growing and return to profitable technical results, while maintaining its risk-adjusted capitalization. AVLA Perú is a surety, credit and property/casualty insurer that began operations in 2015. The company specializes in surety and complimentary lines of credit insurance, as well as a property line, engineering. AVLA Perú remains in the top 10 among Peru's non-life carriers and top three in the country's surety segment, based on market share. AM Best views AVLA Perú business profile as neutral. Since its creation in 2015, AVLA Perú has capitalized successfully on Peru's guarantee market, which has limited capacity, and become one of the country's main participants for credit insurance and surety. AM Best's neutral assessment of the company's business profile reflects the size of its operation within a small segment in Peru. AM Best considers the company's operating performance to be adequate. AVLA Perú has been able to promote its products in a profitable manner and maintain adequate underwriting performance since 2017, taking proactive steps to manage claims due to market events and developing alternatives for revenue. AVLA Perú's technical results have been complemented by an active investment strategy that generated good investment results in 2024. AVLA Perú's balance sheet strength assessment is very strong given its solid capital base for the risks it undertakes, as reflected in its strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The very strong balance sheet strength assessment also recognizes the company's capital management capabilities and shareholders' willingness and proven history of making capital contributions to support AVLA Perú's growth. A panel of reinsurers supports AVLA Perú's balance sheet strength level with excellent security. Positive rating actions could take place if AVLA Perú is able to achieve a consistent upward trend in risk-adjusted capitalization, underpinned by positive bottom-line results. Negative rating actions could occur if the operating performance of AVLA Perú deteriorates due to further losses to a point no longer supportive of the adequate assessment. Negative rating actions could occur if in AM Best's opinion, the strategic importance of AVLA Perú to its group decreased significantly or if the consolidated financial strength of the AVLA Group deteriorated to a point no longer supportive of the current ratings. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
