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Bridgetown, Barbados, 7 October 2019—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 risk-adjusted capitalization at the strongest level and 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: “ICBL’s financial strength rating, affirmed by A.M. Best, forms the cornerstone of our promise to pay and to be there for our policyholders over the long term.”