The prestigious American firm, AM Best maintained the certification of the Odd Insurer for the third consecutive year, with a Financial Strength Rating of "B" (Good) and a Long-Term Issuer Credit Rating of "bb", with the assigned outlook of "stable" credit ratings.

According to the company's press release, the assessment reflects the strength of the Insurer's balance sheet, as well as, its strong operating performance, even in the adverse context of the Covid-19 pandemic.

"We celebrated, with great pride and satisfaction, the Financial Strenght Rating "B" and Long-Term Issuer Credit "bb" assigned to the insurer ÍMPAR by internationally AM Best," reads the insurer's statement.

"The classification of ÍMPAR in these categories, in consecutive years of adversity, demonstrates quality parameters of management, in the commercial relationship, as well as attests the solidity in its balance sheet," says Manuel Gamito, chairman of the board of Ímpar. According to him, the recognition represents an encouraging sign for the recovery of the economy.

Going to the numbers, in 2020, the company's performance remained strong, with net income before taxes of $13.5 million, despite lower economic activity and challenging market conditions as a result of the COVID-19 pandemic.

The insurer also says that the performance is due to a good balance of earnings between underwriting and investment income.

Also according to AM BEST, Ímpar maintains a solid competitive position in its domestic market, as the third largest insurer in terms of gross premiums written.