AM Best Puts Auto Club MAPFRE Insurance Company's Credit Ratings Under Review with Negative Outlook

Credit Ratings Under Review: AM Best has placed the Financial Strength Rating of A- and Long-Term Issuer Credit Rating of "a-" for Auto Club MAPFRE Insurance Company (ACMIC) under review with negative implications due to a decline in surplus and risk-adjusted capitalization.

Impact on Balance Sheet Strength: The decline in ACMIC's financial metrics has resulted in negative pressure on its overall balance sheet strength assessment.

Capital Management Initiatives: ACMIC is exploring various capital management strategies to enhance its capitalization, with management expressing a firm commitment to improving the company's capital position.

Future Rating Actions: The ratings will remain under review until the execution of ACMIC's capital initiatives, and potential downgrades could occur if these initiatives are not implemented successfully.