AM Best Places Credit Rating of Armour Secure Insurance S.A. de C.V. Under Review With Developing Implications

MEXICO CITY--()--AM Best has placed under review with developing implications the Financial Strength Rating of B (Fair), the Long-Term Issuer Credit Rating of “bb” and the Mexico National Scale Rating of “a.MX” of Armour Secure Insurance S.A. de C.V. (Armour) (Mexico) following an announcement that it will be acquired by AXA XL.

This transaction is pending regulatory approval from Mexico regulator Comisión Nacional De Seguros y Fianzas (CNSF). The ratings will remain under review until AM Best can fully assess the financial and operational impacts of the acquisition.

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 Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Inger Rodríguez
Associate Financial Analyst

+52 55 1102 2720 ext. 108
inger.rodriguez@ambest.com

Alfonso Novelo
Senior Director, Analytics

+52 55 1102 2720 ext. 107
alfonso.novelo@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644

james.peavy@ambest.com

Contacts

Inger Rodríguez
Associate Financial Analyst

+52 55 1102 2720 ext. 108
inger.rodriguez@ambest.com

Alfonso Novelo
Senior Director, Analytics

+52 55 1102 2720 ext. 107
alfonso.novelo@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644

james.peavy@ambest.com