AM Best Removes from Under Review with Positive Implications and Affirms Credit Ratings of Sompo Seguros Mexico S.A. de C.V.

MEXICO CITY--(BUSINESS WIRE)--AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of “aa-” (Superior) and the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of Sompo Seguros Mexico, S.A. de C.V. (Sompo Mexico) (Mexico City, Mexico). The outlook assigned to the FSR and NSR is stable, while the outlook assigned to the Long-Term ICR is positive.

Sompo Mexico is a subsidiary of Sompo America Insurance Company (SAIC) and a member of Sompo International Holdings Ltd. (SIH). Sompo Japan Insurance Inc. (SJ) is the core operating unit of Sompo Holdings, Inc. (Sompo Holdings), the ultimate parent and one of the largest non-life insurance groups in Japan. Sompo Mexico is well-integrated into the group.

These Credit Ratings (ratings) reflect SJ’s balance sheet strength on a consolidated basis, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

The ratings recognize Sompo Mexico’s integration and support from SIH and SJ, through SAIC, which provides synergies and operating efficiencies to the Mexico subsidiary. Sompo Mexico maintains the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR).

The ratings were removed from under review with positive implications following the completion of the acquisition of Aspen Insurance Holdings Limited (Aspen) by Sompo Holdings on 24 February 2026, via SIH, a wholly owned subsidiary of SJ.

The acquisition of Aspen is expected to increase SJ’s business scale and specialty line capabilities, materially enhancing its presence in the global property/casualty (re)insurance markets. The positive outlook on the Long-Term ICR reflects AM Best’s expectation that SJ’s business profile will strengthen over the near to medium term, driven by its continued global expansion and diversification, further accelerated by the addition of Aspen. AM Best views the successful execution of postmerger integration and prudent risk management of the expanding overseas portfolio as key considerations in its ongoing business profile assessment.

AM Best will monitor any potential impact on balance sheet strength fundamentals associated with the acquisition over the coming periods. While the company is exposed to sizeable equity risk from its domestic stock portfolio, AM Best expects this exposure to gradually diminish as the company continues to reduce its strategic equity holdings in the forthcoming years. The company’s conservative financial leverage and strong financial flexibility remain supportive of the balance sheet strength assessment.

Positive rating actions could occur if Sompo Japan demonstrates sustainable enhanced business scale through successful post-merger integration of Aspen. Negative rating actions could occur if there is material deterioration in balance sheet strength fundamentals driven by a material increase in risk that outpaces capital growth. Negative rating actions could occur if there is persistent and significant deterioration in operating performance stemming from weak underwriting or investment results.

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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