AM Best has affirmed 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 positive outlook for the Long-Term ICR reflects the Berkley Group's favorable operating performance and balance sheet metrics, while the FSR and NSR outlooks are stable. BICGM benefits from its integration with W. R. Berkley Corporation and substantial reinsurance support from Berkley Insurance Company.
BICGM, formed in November 2016, received regulatory approval to underwrite surety business in June 2017 and expects to begin offering guarantee insurance in 2026. The company's strongest level of risk-adjusted capitalization is supported by its sound capital position and comprehensive reinsurance contracts.
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