Mapfre S. A. offers high global ratings from Standard and Poors, A. M. Best for financial strength and claims paying ability (As of 2007).
- A for financial stability: A.M. Best
- A (Excellent) for financial strength: Standard and Poors
As far as Mexico car insurance, Mapfre is the parent company of Seguros Tepeyac S.A., Mexico, D.F., which also has excellent ratings in Mexico. Tepeyac has exhibited exceptional growth and coupled with stability and is currently listed among the top ten Mexican auto insurance companies in Mexico. With more than $2.5 billion MXP in premiums written to date, Tepeyac shows no signs of slowing down. For this reason, travelers who want to buy quality Mexican insurance coverage can easily find what they need through the company.
A.M. Best has given high Mexico car insurance ratings to Tepeyac and Mapfre for its prospects in the future. This is important because Mexico car insurance policies that are written today may not generate any claims for considerable periods of time. Consumers need to buy Mexican auto insurance from a provider that has exhibited financial strength and security.
Like many Mexico car insurance companies, Mapfre is continually updating and changing its business plan. A.M. Best has deemed the Mexican insurance provider's plan to be reasonable, which is yet another sign of its ongoing financial stability and strength. The provider's plans for the future are considerably enhanced by its relationship with its parent company, Mapfre, which has a very good reputation in the industry.
It should be noted that Tepeyac's investment portfolio is also solid. It's contingency and technical reserves are adequately backed up by that portfolio, which also demonstrates the Mexican auto insurance provider's ability to pay claims. The company also has a very strong BCAR or Best's Capital Adequacy Rating. A.M. Best has predicted that Tepeyac will continually improve upon its already exceptional ratio of adjusted Mexican car insurance policyholder surplus and net premiums written.
One thing that's expected to bolster Tepeyac's fortunes in the next few years is increased business from the pension sector. In anticipation of this increase, the Mexican auto insurance provider has started AFORE Tepeyac. This is backed up by Mapfre's existing management of privatized pension funds back in Spain. A.M. Best therefore backs up the concept of the Tepeyac pension venture and expects it to be successful.
As positive as most aspects of the Tepeyac and Mapfre business are, factors in the country of Mexico may put a damper on some of the Mexican insurance companies' success. The economy in Mexico, as in many other parts of the world, has been foundering for some time. Furthermore, the Mexico car insurance competition that Mapfre and Tepeyac face down in Mexico is fierce. To stay strong and competitive, Tepeyac must continually work to see what its top Mexican car insurance competitors are doing and act accordingly.
All told, it is clear that Tepeyac is a solid option for people who are traveling to Mexico. There are many insurance providers who offer this type of coverage, and many are unrated. Financial strength and stability make Mapfre - and, in turn, Tepeyac - excellent options for anyone who is going to be driving in Mexico.
There's no need to wait until you're in Mexico to buy Mapfre Mexican auto insurance. Mexican Insurance Store now offers Mapfre/Tepeyac Mexico car insurance policies online. You can quote, buy and print a great policy without leaving home.