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AM Best Places Credit Ratings of Acerta Compañia de Seguros, S.A. Under Review With Negative Implications

AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb-" of Acerta Compania De Seguros SA.

The rating action reflects the uncertainty on prospective balance sheet and operating performance, as well as management's lack of communication relating to the interactive rating process.

Acerta initiated operations in Panama City in 2010. As of year-end 2019, the company stood as Panama's 10th-largest insurer, with a market share of more than 1.6%. Its main business segments are surety and motor, in terms of gross written premiums. Acerta operates through a network of agents, brokers and direct distribution channels.