A.M. Best credit agency has raised one notch the issuer credit rating of MAPFRE RE, MAPFRE ESPAÑA and MAPFRE GLOBAL RISKS, subsidiaries of the MAPFRE Group, from ‘a’ to ‘a +’, with a stable outlook, while reaffirming the financial strength rating in ‘A’ (excellent) of said business units.

AM Best has also maintained the rating of MAPFRE PRAICO in ‘A’, which highlights the financial strength of the MAPFRE subsidiary in Puerto Rico, even in a context of impact on resources for local insurers as a result of the hurricanes suffered by the island in 2017.

AM Best highlights in its report that these decisions reflect the “improved rating fundamentals, characterised by a very strong balance sheet, a strong operating performance, with solid earnings from its Spanish insurance and global reinsurance operations, and a favourable business profile”.