Fitch confirms as A+, with outlook stable, the insurer financial strength credit rating for the MAPFRE Group’s operating companies: MAPFRE ESPAÑA, MAPFRE VIDA, MAPFRE RE and MAPFRE ASISTENCIA. Similarly, the agency has reaffirmed MAPFRE’s issuer rating as ‘A-‘, with outlook stable, the same as that of the Kingdom of Spain.

The agency explains in its note that the financial strength rating of the MAPFRE Group is based on very strong capitalization and solid revenues. It also highlights the Group’s “favorable business profile”, compared to the rest of the European insurance groups.

In addition, the ratings agency highlights the company’s leadership position in Spain in the Non-Life segment, as well as in Latin America, particularly in Brazil. It also anticipates that MAPFRE’s technical profitability will remain solid for the next 12-24 months.