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Guardian Life gets top credit rating

Wednesday, August 6, 2014

AM Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Guardian Life of the Caribbean Limited (GLOC) and Guardian General Insurance Limited (GGIL). The rating agency has also affirmed the ICR of “bbb-” of Guardian Holdings Limited (GHL). AM Best said in a release: “The affirmation of the ratings of GLOC and GGIL reflect GHL’s fairly stable leverage position, consolidated balance sheet strength and premium growth over the past several years. 

The consistent profitability of GLOC and GGIL, which are core insurance subsidiaries of GHL, enhances the overall strength of GHL’s balance sheet and debt servicing capabilities.” The rating agency said GLOC was recognised for its strategic position within the GHL group, strong competitive position in the T&T market, consistently positive operating results from its life and pension and health insurance lines and its adequate level of risk-adjusted capitalisation. 

GGIL was acknowledged in its ratings as leading regional market presence, historically profitable operating performance and more than adequate risk-adjusted capitalisation. Additionally, GGIL’s strong return metrics and underwriting performance compare favorably with its property/casualty Caribbean peers.

Guardian Holdings CEO, Ravi Tewari said: “The consistency in our AM Best rating of both GLOC and GGIL is testimony to our unflinching focus on quality and efficiency in our operations across Guardian Group. “Our commitment is to core business, in core markets within the English and Dutch speaking Caribbean, with the best service available in our industry.”