AM Best turns gloomy on Mapfre subsidiary
A.M. Best has revised the outlook to negative from stable and affirmed the financial strength rating of A+ (Superior) and issuer credit rating (ICR) of "aa-" of Mapfre Re, the reinsurance subsidiary of Spanish (re)insurance giant Mapfre (Spain)...
The ratings reflect Mapfre Re's integral role within Mapfre (Spain) (the group), its strong, although weakening, risk-adjusted capitalisation and robust underwriting results. An offsetting factor is
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