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A.M. Best Assigns Ratings to Costa Rica's State Insurer

Thursday, January 26, 2012

A.M. Best, the ratings agency for insurers, has assigned a financial strength rating of A- (excellent) and issuer credit rating of "A-" to Costa Rica's state insurer, the Instituto Nacional de Seguros (INS).

The outlook assigned to both ratings is stable.

The ratings reflect the strong capitalization and liquidity of INS, its position as the main insurer in Costa Rica and the explicit support it receives from the government, A.M. Best says.

These strengths, however, are partially offset by the relatively high loss and underwriting expense ratios of the INS compared to other insurers in the region.

Original source: Inside Costa Rica