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Fitch affirms ratings of Mapfre La Centro Americana

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Fitch affirms ratings of Mapfre La Centro Americana

FitchRatings said March 29 that it affirmed the long-term insurance financialstrength rating of Mapfre LaCentro Americana SA at AA-(slv).

Theinsurer's issuer rating on the regulatory scale of El Salvador at EAA-(slv) wasalso affirmed. Both ratings have a stable outlook.

In itsaffirmation, Fitch recognizes a benefit of support from the insurer's parentand ultimate shareholder, MAPFRESA. Both share the use of the brand and are integrated in terms ofpolicies, products and reinsurance programs, Fitch said.

The ratingalso considers the insurer's technical profitability with good potential,adequate levels of efficiency, improved leverage ratios, coverage ofabove-average reserves and its appropriate reinsurance scheme, Fitch noted.