British Caymanian Insurance was recently served with formal notice to the effect that a Best’s Rating of A-(excellent) with a stable outlook and the financial Size Category of VI has been reaffirmed.
The A.M.BEST rating is based on British Caymanian Insurance company Ltd.’s historically profitable underwriting results, conservative underwriting leverage, as well as explicit and implicit support from it’s parent, The Colonial Group International, a Bermuda-based financial services group. The rating also recognises the company’s adequate level of capitalisation and earning posture.
BritCay has now settled 90 per cent of all claims. The company has reorganised, recapitalised and strengthened its reinsurance programme.
British Caymanian has been rated A-(excellent) by the worlds’ foremost insurance ratings agency for several years and has never lost this rating, or has ever been down graded.
Created in 1984, British Caymanian is a leading property, casualty, health and pension provider in the Cayman Islands. The company is also a provider of life insurance and investment products through its wholly owned subsidiary, British Caymanian Insurance Agencies Limited.
British Caymanian Property and Casualty Department is working fervently to return to BritCay House on Eastern Avenue for business before the end of April.
A guide to Best’s Financial Strength ratings can be accessed at http://www.ambest.com/ratings/fsr/guide for a complete explanation.