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FOR IMMEDIATE RELEASE
OLDWICK - DECEMBER 06, 2018 05:03 PM (EST)
AM Best is pleased to announce that its Mexico-based subsidiary A.M. Best América Latina, S.A. de C.V. has been authorized as a credit rating agency by the Stock Market Superintendency of Panama (SMV).
The SMV authorized A.M. Best’s subsidiary on Nov. 22, 2018, under Resolution No. SMV-54518 as a credit rating agency. The completion of this process reinforces AM Best’s Latin America presence and commitment to Panama’s market, with the leadership of Alfonso Novelo as senior director and manager of a world-class analytical ratings team based in Mexico City.
Carlos De la Torre, senior director of AM Best América Latina, commented: “We are honored to have been authorized as a rating agency in Panama. AM Best is the leading agency in the insurance market in Latin America, with a presence in Panama for more than 17 years, and with a view to continuing our development in such an important nation. “
A.M. Best is a trusted source of insurance market insight and data, and the only global credit rating agency with a unique focus on the insurance industry. Best’s Credit Ratings are a recognized indicator of insurer financial strength and creditworthiness.