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

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

The ratings reflect TATIL’s history of profitable overall operating performance, solid risk-adjusted capitalization and the support it 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 has consistently produced favorable underwriting results, which have been complemented by a stable level of investment income. Profitable overall earnings and relatively modest dividend requirements have contributed to surplus growth and maintaining a strong level of risk-adjusted capitalization.

Partially offsetting these positive rating factors are the geographic concentration of TATIL’s operations, its continuing challenge to maintain overall earnings and market share in extremely competitive markets and the inherent exposure to potential impact from exposure to catastrophic events.

While the outlook for each of TATIL’s ratings is stable, positive rating actions could occur if the company outperforms its Caribbean peers, maintains strong risk-adjusted capitalization and underwriting or there is an improvement in the Trinidad & Tobago country risk tier. Negative rating actions could occur if there is a material decline in TATIL’s risk-adjusted capitalization or operating performance, outsized catastrophic losses when compared with peers or a downgrade of the Trinidad & Tobago country risk tier.

This press release relates to rating(s) 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.

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

Copyright © 2016 by A.M. Best Rating Services, Inc. ALL RIGHTS RESERVED.

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A.M. Best

Alexander Sarfo, +1 908 439 2200, ext. 5779

Senior Financial Analyst

alexander.sarfo@ambest.com

or

Charles Huber, +1 908 439 2200, ext. 5122

Assistant Vice President

charles.huber@ambest.com

or

Christopher Sharkey, +1 908 439 2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Jim Peavy, +1 908 439 2200, ext. 5644

Assistant Vice President, Public Relations

james.peavy@ambest.com

Source: A.M. Best