A.M. Best Co. has assigned an issuer credit rating (ICR) of “bbb” and affirmed the financial strength rating (FSR) of B++ (Good) of Jamaica International Insurance Company Limited (JIIC) with a stable outlook. “The ratings reflect JIIC’s favorable capitalization, profitable operating results and financial flexibility as a result of the support and commitment of its parent, Grace Kennedy Limited (GK),” said Best. GK is one of the leading business conglomerates in the region and is publicly-traded on the Jamaica, Barbados, Trinidad and Tobago and Eastern Caribbean Islands stock exchanges.
Standard & Poor’s Ratings Services has assigned its ‘BB’ long-term insurer financial strength and counterparty credit ratings to Syria-based Arab Union Reinsurance Co. (AU Re) with a stable outlook. “The ratings reflect the company’s marginal competitive position in the international reinsurance sector, and its marginal investment portfolio currently centered on unrated banks,” S&P explained. “These concerns are mitigated in part, however, by AU Re’s strong level of capitalization, good earnings and good liquidity.
Was this article valuable?
Here are more articles you may enjoy.
Longtime Alabama Dentist Charged With Insurance Fraud in 2025 Office Explosion 
Florida Board Drafting Rules That Could Stem Bogus Engineering Reports in Claims 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
