AM Best Affirms Credit Ratings of Assurant Daños México, S.A. and Assurant Vida México, S.A.

MEXICO CITY--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Assurant Daños México, S.A. (ADM) and Assurant Vida México, S.A. (AVM). In addition, AM Best has also affirmed the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of ADM and AVM. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect ADM and AVM’s balance sheet strength, which AM Best assesses as very strong, as well as each company’s adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The stable outlooks reflects AM Best’s expectation that the companies will maintain a balance sheet strength assessment in the very strong range over the intermediate term with adequate operating results, contributing to the capital & surplus growth needed to support an expanding book of business. The rating also reflects the ongoing implicit and explicit support received as a member of the Assurant Enterprise.

The ratings of ADM and AVM also reflect their affiliation and strategic importance to Assurant, Inc., the ultimate parent, as a stepping-stone to growth in the Latin America market. The ratings also consider the solid reinsurance structure mainly supported by the group. ADM and AVM initiated operations in 2004 and are owned by Assurant Holding Mexico, S. de R.L. de C.V., which is part of Assurant, Inc. Distribution for both companies is based on sales through financial institutions, auto companies, telecommunications carriers, retailers and other channels.

ADM and AVM follow their group’s underwriting, ERM and corporate governance practices. They also receive reinsurance support and benefit from their brand recognition, which expands their market share in Mexico. Both subsidiaries also benefit from their group’s capital contributions, when required, to support their growth targets.

In 2024, ADM maintained its balance sheet strength assessment in the very strong category and continued to reinforce its capital base through the reinvestment of earnings. Premium growth in 2024 benefited from an improvement in sales in the company’s global auto, mobile and retail business lines, as well as commercial alliances with high-profile distributors and global companies. As of November 2025, ADM increased its profitability through positive technical and underwriting results and the reduction of management expenses. This was supported by an increase in investment income, partially resulting from its strategic asset allocation.

AVM’s balance sheet strength assessment also remained in the very strong category during 2024, supported by consistent profitability. AVM’s underwriting results also benefited from a reserve release in 2024, mainly due to the annualization of its policies. The company presented positive bottom-line results as of November 2025, backed by profitable technical results and strengthened by investment income.

Negative rating actions could take place if there is a substantial deterioration in the companies’ operating performance or aggressive growth in premiums leads to a drop in their risk-adjusted capitalization to levels no longer supportive of the current ratings.

Negative rating actions could also take place if AM Best considers that the parental support of ADM and AVM, or their strategic importance to the group, deteriorates.

Factors that could lead to a positive rating action for ADM and AVM include favorable results in operating performance.

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 www.ambest.com.

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