A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Caribbean Alliance Insurance Co. Ltd. (CAIC) (Antigua and Barbuda). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect CAIC's balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also consider CAIC's conservative management philosophy and effective risk management procedures, which include a comprehensive reinsurance program developed to mitigate exposure to natural catastrophes.
CAIC continues to enhance its shareholders' equity as a result of earnings from robust underwriting results and investment income, especially in non-catastrophe years. CAIC's risk-adjusted capitalization and operating performance metrics consistently place the company toward the top of its Caribbean peer group. The ratings are further supported by CAIC's market profile, geographic spread of risk and its management team's extensive knowledge of the territories in which the company operates.
Source: A.M. Best Ratings Services, Inc. Used under license.