Fitch Improves Pacifico Peruano’s Outlook

Fitch Improves Pacifico Peruano’s Outlook

Peru

Fitch has improved to stable from negative the outlook for insurer Pacifico Peruano Suiza (PPS) and affirmed its BBB minus rating. The action reflects the improvement on PPS' operating performance, which is sustained by a significant reduction of its claim ratio and controlled operating expenses while its leverage ratios are decreasing towards its historic average, Fitch says. It also reflects its adequate retention levels, solid market share and franchise in Peru and its association with the la

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