Best’s News & Research Service - September 01, 2025 11:06 AM (EDT)
AM Best Places Credit Ratings of Sompo Seguros Mexico S.A. de C.V. Under Review With Positive Implications
- September 01, 2025 11:06 AM (EDT)
//BestWire// - AM Best has placed under review with positive implications the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of “aa-” (Superior) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of Sompo Seguros Mexico, S.A. de C.V. (Sompo Mexico) (Mexico City, Mexico)
Sompo Mexico is a subsidiary of Sompo America Insurance Company (SAIC) and a member of Sompo International Holdings Ltd. (SIH). Sompo Japan Insurance Inc. (SJ) is the core operating unit of SOMPO Holdings, Inc. (SOMPO Holdings), the ultimate parent and one of the largest non-life insurance groups in Japan. Sompo Mexico is well-integrated into the group.
The ratings reflect SJ’s balance sheet strength on a consolidated basis, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The ratings recognize Sompo Mexico’s integration and support from SIH and SJ, through SAIC, which provides synergies and operating efficiencies to the Mexico subsidiary. Sompo Mexico maintains the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR).
These Credit Rating (rating) actions follow the announcement on 27 August 2025, that Sompo Holdings, Inc., via a wholly owned subsidiary of SIH, has entered into a definitive merger agreement to acquire 100% of the issued Class A ordinary shares of Aspen Insurance Holdings Limited (Aspen) for approximately USD 3.5 billion in an all-cash transaction. Upon completion, Aspen will become a subsidiary of SIH, the intermediate holding company under SJ.
The under review with positive implications status reflects the potential material benefits in Sompo group’s business profile following the acquisition of Aspen, which could accelerate the geographic diversification and lead to a significant enhancement in its presence in the global property/casualty (re)insurance market. Aspen is a global (re)insurance player with a diversified underwriting portfolio and expertise in specialty lines.
The transaction is anticipated to close in the first half of 2026, subject to regulatory approvals. The ratings will remain under review with positive implications pending the completion of the transaction and until AM Best can evaluate fully the impact on SJ’s rating fundamentals.
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:
- Scoring and Assessing Innovation (Version Feb. 20, 2025)
- Best’s National Scale Ratings (Version July 31, 2025)
- Evaluating Country Risk (Version June 6, 2024)
- Understanding Global BCAR (Version Aug. 1, 2024)
- Catastrophe Analysis in AM Best Ratings (Version Feb. 8, 2024)
- Available Capital and Insurance Holding Company Analysis (Version Aug. 15, 2024)
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: Sept. 27, 2024
- Initial Rating Date: April 13, 2016
- Date Range of Financial Data Used: Dec. 31, 2018-June 30, 2025
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