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Fitch affirms ratings of 3 Chile-based insurers

Fitch Ratings on Aug. 7 affirmed the national ratings of three Chile-based insurance companies.

Fitch maintained the national ratings of BCI Seguros Generales SA and BCI Seguros Vida SA at AA(cl) and that of Seguros Vida Security Previsión SA at AA-(cl), all with a stable outlook.

The ratings affirmation for the BCI units considers their positive results, which have remained historically stable, Fitch said. Their ratings also incorporate their relevant market position, diversification of businesses and distribution channels and higher level of leverage.

Meanwhile, the rating of Seguros Vida Security Previsión is also based on its positive and favorable results, which are based on its profitability indicators, significant premium growth due to the tendering of its disability and survival insurance portfolio as well as adequate levels of indebtedness compared to peers.