AM Best Assigns Credit Ratings to JMalucelli Travelers Seguros SA

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to JMalucelli Travelers Seguros SA (JMT) (Colombia). The outlook assigned to the Credit Ratings (ratings) is stable.

The ratings reflect JMT’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider support from JMT’s ultimate parent, Liberty Mutual Holding Company Inc. (Liberty Mutual).

JMT is a niche provider focused on underwriting surety bonds, with a limited number of other associated adjacent lines, in various business sectors, exclusively in Colombia. The company leverages its long-term producer partnerships across multiple distribution sources, as well as Liberty Mutual’s deep experience and expertise in writing surety worldwide. JMT’s balance sheet strength is supported by its strongest level of risk-adjusted capitalization, as measured by Best’s Credit Adequacy Ratio (BCAR). The balance sheet strength assessment considers JMT’s solid reinsurance program with Liberty Mutual, as well as a conservative investment philosophy.

The business JMT is writing has shown consistent profitability historically, while underwriting income is expected to be augmented by investment returns. The company’s risk management frameworks and capabilities are considered appropriate and aligned with its stated risk profile, along with guidance and oversight by Liberty Mutual.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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