AM Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of MAPFRE Insurance Company of Florida (MAPFRE Florida) (Miami, FL).
AM Best has withdrawn these Credit Ratings (ratings) as the company has requested to no longer participate in AM Best’s interactive rating process. MAPFRE Florida is no longer participating in its group’s reinsurance pooling agreement that formed the basis for the rating. MAPFRE Florida is wholly-owned subsidiary of MAPFRE U.S.A. Corp., whose ultimate parent is Spain-based Fundación MAPFRE (MAPFRE).
AM Best’s policy is for a final rating to be completed along with a rating withdrawal. However, a final rating could not be completed due to the lack of forward-looking financial information necessary to support the formation of a current rating opinion.
Source: AM Best
