A.M. Best Affirms and Assigns Ratings to MAPFRE Life Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and assigned an issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" to MAPFRE MAPFRE Mutualidad Agrupación Propietarios Fincas Rústicas de España (Spanish insurance and financial institution) Life Insurance Company (MAPFRE Life) (San Juan, Puerto Rico San Juan (IPA: [saŋ hwaŋ]) (from the Spanish San Juan Bautista, "Saint John the Baptist") is the capital and largest municipality on Puerto Rico. ). The outlook for the ratings is stable. The ratings of MAPFRE Life reflect its integral position within MAPFRE PRAICO PRAICO Puerto Rican American Insurance Company Group (San Juan, Puerto Rico), its enhanced business profile through the expansion of its market position in the group and individual health care businesses, and its improved statutory operating results. These ratings also acknowledge the overall strength and market position of its ultimate controlling global organization, MAPFRE S.A., (Madrid, Spain). Partially offsetting these positive rating factors are MAPFRE Life's statutory earnings volatility over the past five years and a decline in its risk-adjusted capitalization due to an increased level of insurance risks associated with the group and individual health lines of business. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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