OREANDA-NEWS. A.M. Best has upgraded the financial strength rating (FSR) to B++ (Good) from B+ (Good) and the issuer credit rating to “bbb” from “bbb-“ of Worldwide Medical Assurance, Ltd. Corp. (WWMA) (Panama City, Panama). The outlook of each rating remains stable.

The upgrade of the ratings reflects the company’s strong risk-adjusted capitalization, conservative investment strategy, strong underwriting practices and improved profitability indicators. These strengths are offset by the company’s dependence on its reinsurance counterparties in order to implement its growth targets and the highly competitive landscape in Latin America’s health and life insurance segments.