AM Best Places Credit Ratings of Austral Participações S.A. and Its Subsidiaries Under Review With Developing Implications

MEXICO CITY--(BUSINESS WIRE)--AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Austral Resseguradora S.A. and Austral Seguradora S.A. (Austral Seg). Concurrently, AM Best has placed under review with developing implications the Long-Term ICR of “bbb-” (Good) of Austral Participações S.A. All companies are domiciled in Brazil and collectively referred to as Austral.

Austral’s Credit Ratings (ratings) have been placed under review with developing implications following the announcement that Liberty Mutual Insurance Company (Liberty Mutual) has agreed to acquire Austral Seg. This most recent transaction follows strategic decisions in Latin America that includes starting a new subsidiary in Brazil in 2024. The plan is to eventually merge Austral Seg’s operations into Liberty Mutual Surety Brasil Seguros S.A.

Austral’s ratings will remain under review with developing implications pending regulatory approvals, closing conditions and AM Best’s evaluation of the organization’s integration and future business plans.

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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