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Fitch affirms Reaseguradora Patria's ratings, revises outlook to stable

Fitch Ratings on Aug. 7 affirmed Reaseguradora Patria SAB's A- international insurer financial strength rating and revised the outlook to stable from negative.

The ratings actions follow the revision of the outlook on Mexico's issuer default ratings to stable from negative.

Reaseguradora Patria's rating is based on its strong operating performance, geographical diversification and investment allocation.

As of June 2017, the company's combined ratio and gross leverage indicators decreased to 92% and 0.9x, respectively, from 112% and 1.1x% as of year-end 2016, Fitch said.