AM Best, the global credit rating agency specializing in the insurance sector, has confirmed BMI\u2019s \u201cA-\u201d (Excellent) financial strength rating and revised the company\u2019s outlook to \u201cstable.\u201d<\/p>\n\n\n\n
This group rating includes Best Meridian Insurance Company (Miami, FL) and Best Meridian International Insurance Company, II (San Juan, PR) (collectively known as \u201cBMI\u201d). Both companies are part of BMI Financial Group, Inc. BMI and its affiliates have a long history of specializing primarily in offering life and health products throughout Latin America and parts of Asia.
AM Best's affirmation of the rating and revised outlook reflect BMI's favorable operating performance, financial stability and sound risk management practices.
AM Best's opinion also cites BMI's strong financial position, highlighting its solid balance sheet and the practical steps it has taken to navigate recent challenges.<\/p>\n\n\n\n
A promising path<\/strong><\/p>\n\n\n\n BMI's financial strength has improved significantly, with a one-third increase in available capital from 2022, driven by consistent retained earnings and a healthy growth trajectory.<\/p>\n\n\n\n "<\/em>"We are proud and pleased with this reaffirmation of our rating and improved outlook, which demonstrates BMI's financial strength and recognizes our work to ensure the protection of each of our policyholders. Our deep knowledge of the Latin American market and constant economic growth are our best calling cards," said Anthony Sierra, BMI's Chief Executive Officer & Chairman of the Board. As BMI continues to build on its strong foundation, AM Best expects continued improvement and stability. This rating change highlights the company\u2019s ability to adapt to challenges and stay on track for long-term success.<\/p>","protected":false},"excerpt":{"rendered":" AM Best, la agencia de calificaci\u00f3n crediticia global especializada en el sector de seguros, ha confirmado la calificaci\u00f3n de fortaleza financiera \u201cA-\u201d (Excelente) de BMI y ha revisado la perspectiva de la compa\u00f1\u00eda a \u201cestable\u201d. Esta calificaci\u00f3n grupal incluye a Best Meridian Insurance Company (Miami, FL) y Best Meridian International Insurance Company, I.I. (San Juan, […]<\/p>\n","protected":false},"author":1,"featured_media":6659,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[429],"tags":[],"class_list":["post-6658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias"],"acf":[],"yoast_head":"\n
AM Best recognizes the company's strong adjusted capitalization as a key factor in reaffirming its rating. This strong financial foundation indicates BMI's ability to withstand market fluctuations and adapt to changing conditions.
Consistent performance, strategic adjustments<\/strong>
BMI\u2019s operating performance has demonstrated resilience despite recent volatility. The company is adapting quickly, adjusting pricing, reinsurance plans and cost containment measures to maintain profitability.
This proactive approach positions the company well for continued success, supported by fee income from its fronting business.
Although investment income remains somewhat unpredictable, particularly with asset valuations impacting overall financial results, BMI is well positioned to meet these challenges with a strategy focused on conservative, investment-grade securities and low-risk equity holdings.
A reference in Latin America<\/strong>
With over fifty years of history in Latin America and parts of Asia, and a deep understanding of its diverse markets, BMI offers life insurance and private health insurance throughout the region. The company\u2019s high customer retention rates reflect the great value of its offerings.
Despite the region\u2019s political and economic uncertainties, BMI has maintained a strong presence and reputation in this niche market, demonstrating its commitment to its clients. BMI\u2019s enterprise risk management (ERM) framework helps the company stay agile, managing risk and seizing opportunities with confidence.<\/p>\n\n\n\n