Bridgetown, Barbados, 6 September 2018—The Board of Directors of the Insurance Corporation of Barbados Limited (“ICBL” or “the Company”) announced today that A.M Best has affirmed the Company’s financial strength rating of A- (Excellent).
A.M. Best cited the Company’s balance sheet strength, its history of adequate operating performance and its appropriate enterprise risk management. Other contributing factors included its strategic affiliation with major shareholder BF&M Limited, recognized for its diversified product portfolio, geographic operations, use of reinsurance, and risk management approach.
John Wight, Chairman of the Board of ICBL, said: “These ratings remain among the strongest of any domestic insurance group operating in the Caribbean region. They form the cornerstone of our promise to pay and to be there for our policyholders over the long term.”