Cardif Colombia Seguros Generales S.A. 'BBB-' Ratings Affirmed Following Revised Capital Model Criteria; Outlook Stable

On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). Based on the new criteria, the capital adequacy of Cardif Colombia Seguros Generales S.A.' remains satisfactory. We therefore affirmed our 'BBB-' long-term issuer credit and financial strength ratings on Cardif Colombia. The stable outlook reflects our expectation that the insurer will retain sufficient capital and liquidity buffers to surpass our sovereign stress test in foreign currency in the next 24 months. On Jan. 10, 2024, S&P Global Ratings affirmed its 'BBB-' long-term issuer credit and financial strength ratings on Cardif Colombia Seguros Generales. The outlook remains stable. Applying the revised capital model criteria did not materially affect our ratings

...January 10, 2024 - On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). - Based on the new criteria, the capital adequacy of Cardif Colombia Seguros Generales S.A.' remains satisfactory. - We therefore affirmed our '###-' long-term issuer credit and financial strength ratings on Cardif Colombia. - The stable outlook reflects our expectation that the insurer will retain sufficient capital and liquidity buffers to surpass our sovereign stress test in foreign currency in the next 24 months. On Jan. 10, 2024, S&P Global Ratings affirmed its '###-' long-term issuer credit and financial strength ratings on Cardif Colombia Seguros Generales. The outlook remains stable....

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