AVLA insurer has been internationally rated for the first time as financially strong and stable by AM Best

SANTIAGO, Chile, June 6, 2019 /PRNewswire/ -- The reputable agency gives a thumbs up in its first rating to the Latin-American insurance group, which specializes in surety bonds, trade credit and private debt insurance.

AM Best has assigned a Long-Term Issuer Credit Rating of "bbb+" and "bbb" to AVLA's Chilean and Peruvian Branches. The outlook of these ratings has been categorized as stable on the prospect of the company continuing to develop its niche markets with still more room for growth. "This certification combined with our relationship with 19 leading reinsurance companies worldwide further supports our Latin American expansion," explains CEO, Ignacio Alamos. AVLA had a FY2018 revenue of $75.3 million ? 13% growth over 2017 ? driven by strong results in the Peruvian branch.

Since its creation in 2008, AVLA has served more than 13,000 clients ? currently serves more than 6,000 active clients in diverse industries ? and has been able to promote its products in a profitable manner attaining a 22% ROE as of 2018. AVLA has also been able to maintain the "support from a reinsurer panel with excellent security," as well as a "strong balance sheet assessment due to its solid capital base for risks it undertakes." The company has a historic combined ratio of 82%.

On top of that, AM Best highlights the "successful implementation of its business plan" ? AVLA ranks first in Chile and second in Peru in surety bonds ? and the willingness of the shareholders to continue to support AVLA's growth with capital contributions.

SOURCE AVLA