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S&P affirms Seguros Inbursa's national scale ratings

S&P Global Ratings on Jan. 31 affirmed Seguros Inbursa SA Grupo Financiero Inbursa's long-term national scale counterparty credit and financial strength ratings at mxAAA, with a stable outlook.

The affirmation considered the company's core subsidiary status to Grupo Financiero Inbursa SAB de CV, S&P said. "We believe that Seguros Inbursa is highly integrated with Banco Inbursa SA Institución de Banca Múltiple Grupo Financiero Inbursa's operations and that an insurance products offering is an integral part of the group's strategy," the rating agency said.

S&P also took into account the insurer's relevant role within the Mexican insurance industry.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.