...Strong Business Profile: The `BBB' Insurer Financial Strength (IFS) rating of RIMAC Seguros y Reaseguros reflects the company's favorable business profile, with a leading position in the Peruvian insurance industry at 30.7% market share. This assessment reflects favorable operating scale and brand strength, resulting in strong competitive advantages. RIMAC's diversification and business risk profile are also seen as favorable, with a variety of product offerings in well-established business lines. High Profitability: RIMAC improved its operating performance by higher costs efficiency in 2019, reducing the combined ratio by 4.8%. This reduced operational losses by PEN158 million to get to negative PEN6 million in 2019. The operational improvement and stable financial income raised ROAE and pretax ROAA to the highest levels of the past five years. Decreasing Leverage: As of YE 2019, RIMAC's net leverage of 6.3x and asset leverage of 7.3x improved by 0.5x and 1.1x, respectively, from the prior...
