Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ counterparty credit and financial strength ratings and negative outlook on Amedex Insurance Co.
S&P then said that it had withdrawn the ratings at the company’s request.
“The ratings reflected Amedex’s good business position as a niche provider of major medical products in Latin America, favorable operating performance, and strong capitalization,” said S&P.
“These positive factors are offset by Amedex’s limited size, declining enrollment trends, new business risk through Amedex Bermuda, and high operating expenses, which are the direct consequence of its target market and high level of service provided,” the announcement concluded.
Was this article valuable?
Here are more articles you may enjoy.
Binance’s $6.3 Billion Hack: How Crypto Insurance Works 
More Florida Insurers Announce Rate Cuts for Auto, Homeowners, Condo Units 
Private Jet’s Pilot Reported Turbulence Before Florida Crash 
AIG’s General Insurance Q3 Underwriting Income Down 29% 
