A.M. Best Affirms Credit Ratings of First Capital Insurance Limited
The ratings reflect First Capital’s strong risk-adjusted capitalization and consistent operating performance.
The company’s risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), remains supportive of the ratings. Capital and surplus has increased steadily in recent years due to growth in retained earnings. In terms of underwriting performance,
An offsetting rating factor is increasing competition in the markets where
The company is well-positioned at its current rating level. Negative rating actions could result from a weakening of the company’s business profile or operating performance, or from a material decline in its risk-adjusted capitalization.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
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. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
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