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Fitch upgrades Renta Nacional Compania de Seguros Generales to BBB(cl)

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Fitch upgrades Renta Nacional Compania de Seguros Generales to BBB(cl)

FitchRatings on Oct. 6 upgraded the national insurer financial strength ofRenta Nacional Compania deSeguros Generales SA to BBB(cl) from BBB-(cl), while changing theoutlook to stable from positive.

The upgradeis driven by growth in the insurer's income and operations atabove-the-market-average and historical rates. Fitch said this has benefitedthe diversification of income sources, with levels expected to be maintained inthe long term.

Meanwhile,the stable outlook reflects the stability in the main policies of the company.However, Fitch still sees the company having low business volume in highlycompetitive lines.