AM Best affirmed on July 7, 2025, the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'aa-' (Superior) for Berkley International Compania de Garantias Mexico S.A. de C.V. (BICGM). The Mexico National Scale Rating (NSR) of 'aaa.MX' (Exceptional) was also affirmed.
The outlook for the Long-Term ICR is positive, while the outlooks for the FSR and NSR are stable, indicating confidence in BICGM's future performance. BICGM is integrated with its parent company, W. R. Berkley Corporation, benefiting from corporate goals, underwriting, enterprise risk management, and capital commitments.
BICGM's strongest level of risk-adjusted capitalization is supported by its sound capital position and a comprehensive reinsurance contract with Berkley Insurance Company. The company experienced significant premium growth in 2023, driven by government construction activities and nearshoring in Mexico, and expects to offer guarantee insurance in 2026.
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