AM Best, the global agency specializing in credit ratings for the insurance sector, has confirmed BMI's financial strength rating of “A-” (Excellent) and has improved its outlook to “stable.”
This rating applies to Best Meridian Insurance Company (Miami, FL) and Best Meridian International Insurance Company, II (San Juan, PR), companies that are part of BMI Financial Group, Inc. With more than 50 years of experience in Latin America and other regions, BMI specializes in life and health insurance, standing out for its financial strength and commitment to its policyholders.
Supporting BMI's financial strength
AM Best's rating affirmation and outlook adjustment highlight BMI's financial stability, favorable operating performance and strong risk management practices.
In its analysis, AM Best highlights the company's solid adjusted capitalization, which reflects its ability to face market challenges and maintain sustainable growth.
Growth and stability
In recent years, BMI has strengthened its financial position, with a significant increase in its available capital from 2022, driven by consistent retained earnings and solid growth.
“We are proud of this reaffirmation of our rating and the improvement in our outlook, which reaffirms BMI's financial strength and our commitment to protecting each of our policyholders. Our deep knowledge of the Latin American market and our constant growth are proof of our work,” he said. Anthony Sierra, CEO & Chairman of the Board of BMI.
Adaptability and vision of the future
BMI has demonstrated resilience and adaptability in a changing environment. The company has implemented key strategies, such as price adjustments, reinsurance and cost containment measures, ensuring efficient management that allows it to maintain its profitability and sustainability over time.
Despite volatility in investment markets, BMI has maintained a strategy focused on low-risk, investment-grade assets, ensuring long-term stability and growth.
Commitment to Latin America and Colombia
With more than five decades of experience in Latin America and a consolidated presence in the region, BMI Colombia continues to lead the private life and health insurance sector. High customer retention rates reflect the trust and value that policyholders find in our solutions.
Despite the economic and political challenges in the region, BMI has demonstrated its commitment to its clients, maintaining a solid operation and adapting to changes with agility. Its risk management model allows it to not only face challenges, but also take advantage of new opportunities to continue growing.
With this AM Best endorsement, BMI Financial Group, Inc reaffirms its strength and commitment to the financial protection of its policyholders, ensuring peace of mind and confidence in each of its solutions.
