A.M. Best Affirms Ratings of Trinidad & Tobago Insurance Limited

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OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Trinidad & Tobago Insurance Limited (TATIL) (Trinidad). The outlook for both ratings is stable.

The ratings reflect TATIL’s historically profitable operating performance, solid capitalization and the support the company receives from its ultimate parent, ANSA McAL Limited (AMCL). AMCL is one of the largest diversified companies in the Caribbean and is publicly-traded on the Trinidad & Tobago Stock Exchange.

TATIL’s prudent underwriting philosophy and conservative risk management strategies historically have resulted in favorable underwriting results. This has enabled the company to record consistent overall earnings in recent years, while enhancing its risk-adjusted capitalization. As an important strategic focus within AMCL’s financial services segment, TATIL has the support and commitment of AMCL and benefits from group synergies, along with access to AMCL’s considerable resources, including information technology, financial and investment management services.

Partially offsetting these positive rating factors is the geographic concentration of TATIL’s operation, the challenges to maintain overall earnings and market share in extremely competitive markets and the potential impact from exposure to catastrophic events.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; “Understanding Universal BCAR”; “Rating Members of Insurance Groups”; “A.M. Best’s Ratings & the Treatment of Debt”; “Natural Catastrophe Stress Test Methodology”; and “Assessing Country Risk.” Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

CONTACT:

A.M. Best Company
Ricardo Longchallon, 908-439-2200, ext. 5676
Senior Financial Analyst
ricardo.longchallon@ambest.com
or
Carole Lovell, 908-439-2200, ext. 5445
Public Relations Associate
carole.lovell@ambest.com
or
Peter Dickey, 908-439-2200, ext. 5053
Assistant Vice President
peter.dickey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com