Fitch maintains AA+ national scale rating for Colseguros

Fitch has maintained its AA+(col) national scale rating for Colombian insurance company Colseguros with a stable outlook, according to a report from the ratings agency. The rating reflects the good position and ample experience of Colseguros in the local market, adequate reserves, high efficiency and conservative investment management, Fitch said. The rating also takes into account the implicit support of German insurance giant Allianz, which is Colseguros' primary shareholder. The report said that high claim rates and strong concentration in the vehicle insurance segment were also reflected in the rating. To read the full report in Spanish, go to this link