AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior), affirmed the Financial Strength Rating (FSR) of A+ (Superior) and affirmed the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of Berkley International Seguros México S.A. (BISM) (Mexico City, Mexico). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlooks of the FSR and NSR are stable.

BISM is a member of W. R. Berkley Insurance Group (Berkley Group), which on a consolidated basis, has a balance sheet strength that AM Best assesses at the strongest level, as well as strong operating performance, a favorable business profile and appropriate enterprise risk management (ERM).

The Long-Term ICR upgrade reflects Berkley Group’s improved balance sheet strength fundamentals, driven by a robust investment portfolio that is driving consistently strong returns, consistent organic surplus growth over the most recent 10-year period and the group’s strong debt leverage.

The stable outlooks reflect AM Best’s expectation that the group will maintain its balance sheet strength assessment in the strongest range over the intermediate term with strong operating results contributing to surplus growth.

The Credit Ratings (ratings) reflect BISM’s substantial reinsurance support from its group through Berkley Insurance Company (BIC). Additionally, the ratings factor in BISM’s integration with its parent company, W. R. Berkley Corporation (W. R. Berkley), in terms of underwriting, ERM and capital commitments.

BISM was formed in November 2016 and is one of W. R. Berkley’s two Mexico subsidiaries. The company received regulatory approval for operations in June 2017 and issued its first policy in July of that same year. BISM offers a diversified slate of property/casualty products, backed up by treaty and facultative reinsurance contracts with BIC.

BISM’s strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is derived from its sound capital position, further strengthened by the 95/5 percent quota share and excess of loss contracts provided by BIC. Furthermore, AM Best recognizes W. R. Berkley’s commitment to its subsidiaries through additional capital fungibility to the Mexico operation.

BISM has been able to grow its business volume during the past nine years. Management and underwriting teams have navigated changes in the market’s economic dynamics successfully in recent years. The company continues to take advantage of the reinsurance support received from Berkley Group, which allowed BISM to generate positive bottom-line results in 2025 reflecting MXN $98.6 million in net income. This performance also is underpinned by premium sufficiency and further strengthened by investment income.

Negative rating actions could occur to BISM if the balance sheet strength of the ultimate parent materially deteriorates, including a decline in risk-adjusted capitalization enough to warrant a less favorable balance sheet assessment.

While considered unlikely, positive rating actions could be taken if the ultimate parent’s operating performance metrics continue to show a favorable trend and align more closely with a very strong operating performance assessment. BISM ratings would mirror those actions.

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.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260625855574/en/