S&P lifts five Mexico insurers views to stable

S&P said it revised the outlook on the global scale ratings on five Mexico-based insurers to stable from negative after a similar action on Mexico's global scale ratings.

The agency also said it affirmed the global scale ratings on these five insurers.

The insurers with revised stable outlooks include Allianz Mexico Compania de Seguros, AXA Seguros, Grupo Nacional Provincial, Sompo Seguros Mexico and Kot Insurance Co.

The action follows the outlook revision on Mexico, S&P said.

The change in the outlook reflects diminishing risk that the government's direct debt burden, combined with a future assessment of potential contingent liabilities, could materially worsen over the next 24 months, the agency said.

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