Fitch Ratings on Dec. 28 affirmed MetLife Chile Seguros de Vida SA's national scale rating at AA+(cl), with a stable outlook.
The rating reflects the insurer's stable management policies and financial results, Fitch said, adding that the company compensates for above-average debt indicators with a relatively conservative investment profile.
MetLife Chile maintains a highly diversified business profile and has seen consistent growth due to its solid distribution network, the rating agency noted. The company also benefits from low reinvestment risk by adequately managing its flow of assets and liabilities.
According to Fitch, parent company MetLife Inc. has the capacity and willingness to support the Chilean unit if needed.
MetLife Chile's return on average assets improved to 1.0% at the end of September from 0.7% a year earlier, while its return on average equity jumped to 19.2% from 11.5%.