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FOR IMMEDIATE RELEASE
OLDWICK - DECEMBER 01, 2016 03:14 PM (EST)
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Guardian General Insurance Limited (GGIL) (Trinidad & Tobago). The outlook of these Credit Ratings (ratings) is stable.
GGIL is a wholly owned subsidiary of Guardian Holdings Limited (GHL), a publicly traded holding company listed on the Trinidad and Tobago Stock Exchange.
The ratings of GGIL acknowledge its strategic position within the GHL group, leading regional market presence, consistently profitable operating performance and more-than-adequate risk-adjusted capitalization. Additionally, GGIL’s strong return metrics and underwriting performance compares favorably with its property/casualty Caribbean peers.
Partially offsetting these positive rating factors are the highly competitive and challenging property/casualty market conditions throughout the Caribbean, the impact of continuing volatility in the local, regional and global equity markets, as well as GGIL’s exposure to catastrophe events and corresponding reliance on reinsurance to safeguard capital.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.