A.M. Best Affirms Rating of Aseguradora Mundial, S.A.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Aseguradora Mundial, S.A. (Panama City Panama City, city (1990 pop. 34,378), seat of Bay co., NW Fla., on St. Andrews Bay; inc. 1909. A Gulf Coast resort with amusement parks and excellent fishing, it is also a port of entry. The city's industries produce paper, clothing, and chemicals. , Panama). The rating outlook is stable. The rating reflects Aseguradora Mundial's solid capitalization, historically favorable operating profitability and its well established market presence in the Panamanian market. The rating also reflects the company's underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. expertise and conservative investment portfolio. In existence for nearly 40 years, Aseguradora Mundial is one of the largest insurance companies in Panama, which provides both life and non-life insurance products. In addition to its insurance operations, Aseguradora Mundial also provides asset management, actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin consulting, personal financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and it manages pension funds of certain large industrial organizations in Panama. Furthermore, the company has begun strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. with Mundial Desarollo, S.A., concerning expanding into the Central and South American markets with products that offer growth opportunities. Partially offsetting these positive factors are the company's geographic concentration in Panama, which subjects it to the country's economic and regulatory risk. In recent years, Aseguradora Mundial has undertaken measures to strengthen its underwriting guidelines to improve the underwriting results in its non-life book of business, which has translated in operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before resulting in capital and surplus improvement. This challenges the company to maintain its business position and requires the continued enhancement of marketing strategies through the development of new and attractive products. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 3,000 individual property/casualty companies and A.M. Best groups, please visit www.ambest.com/pc. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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