AM Best affirms rating of PEMEX captive

AM Best has affirmed the financial strength rating of ‘B++’ (Good) and the long-term issuer credit rating of “bbb” (Good) of Switzerland-domiciled Kot Insurance Company AG. The outlook for the ratings is stable.

Kot is the captive reinsurer of Mexican state-owned oil and gas company, Petroleos Mexicanos (PEMEX).

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