Best’s News & Research Service - March 26, 2026 03:21 PM (EDT)
AM Best Assigns Credit Ratings to Seguros Universal, S.A.
- March 26, 2026 03:21 PM (EDT)
//BestWire// - AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Seguros Universal, S.A. (Seguros Universal) (Santo Domingo, Dominican Republic). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Seguros Universal’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Seguros Universal, S.A. is the largest insurer in the Dominican Republic, and is a 97% owned subsidiary of Grupo Universal, S.A. (Grupo Universal). The company was founded in 1964, as La Universal, Compañía General de Seguros. In 1989, Seguros Universal was acquired by Grupo Financiero Popular, the financial arm of Banco Popular Dominicano (BPD). In 2000, the company merged with Seguros America, creating the largest insurance company in the market. The company’s business profile assessment is neutral, underpinned by consistent leadership, strong brand recognition, further benefitting from a diversified operating structure through its holding company, and adapting to changing market dynamics.
Seguros Universal’s balance sheet strength is underpinned by its risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The capital base has benefited from the company’s positive bottom-line results generated over its extensive track-record. Furthermore, Seguros Universal is well-protected by its comprehensive and historically effective reinsurance program. Management has been inclined to use its capital efficiently, which will lead to further dividends going forward.
Seguros Universal’s operating performance is assessed as adequate, and is characterized by a history of low volatility in its results, reflecting disciplined underwriting and risk controls, in line with the company’s operational scale. As of December 2024, and into 2025, the company reported sound underwriting ratios and prudent growth trends.
Negative rating actions could occur if the company's risk-adjusted capitalization deteriorates to a level no longer supportive of the current ratings, either due to dividend payments or material changes in the investment strategy. While unlikely, positive rating actions could take place as a result of the successful consolidation of the business strategy, in line with stable operating earnings contributing to Seguros Universal's capital base growth.
The methodology used in determining these ratings is Best’s Credit Rating Methodology (Version Aug. 29, 2024), which provides a comprehensive explanation of AM Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
· Evaluating Country Risk (Version June 6, 2024)
· Understanding Global BCAR (Version Sept. 18, 2025)
· Catastrophe Analysis in AM Best Ratings (Version Feb. 27, 2026)
· Available Capital and Insurance Holding Company Analysis (Version Sept. 18, 2025)
· Scoring and Assessing Innovation (Version Feb. 20, 2025)
View a general description of the policies and procedures used to determine credit ratings. For information on the meaning of ratings, structure, voting and the committee process for determining the ratings and monitoring activities, relevant sources of information and the frequency for updating ratings, please refer to Guide to Best’s Credit Ratings.
· Previous Rating Date: Not Rated
· Initial Rating Date: March 26, 2026
· Date Range of Financial Data Used: Dec. 31, 2021-Dec. 31, 2025
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