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OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Trinidad & Tobago Insurance Limited (TATIL) (Trinidad and Tobago). The outlook of these Credit Ratings (ratings) remains stable.

The ratings reflect TATIL’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

TATIL’s balance sheet strength is supported by its risk-adjusted capitalization being at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best expects prospective risk-adjusted capitalization to remain at the strongest level, underpinned by the company’s history of profitable overall operating performance that has grown shareholders’ equity and an effective reinsurance program that mitigates exposure to catastrophic loss events.

TATIL has produced favorable underwriting results consistently, which have been complemented by a stable level of investment income augmented by rental income. A profitable overall earnings trend offset by relatively modest dividend requirements have supported surplus growth and a sustained solid level of risk-adjusted capitalization. Somewhat 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, as well as the inherent exposure to potential impact from exposure to catastrophe events.

While the rating outlooks are stable, positive rating factors include improvement in the Trinidad and Tobago country risk tier. Negative rating actions could occur if there is material weakening of the balance sheet strength, an unfavorable trend in operating performance, or a downgrade of the Trinidad and Tobago country risk tier.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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Alexander Sarfo

Senior Financial Analyst

+1 908 439 2200, ext. 5779

Charles M. Huber


+1 908 439 2200, ext. 5122

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644