A.M. Best Places Credit Ratings of Sagicor Life Jamaica Limited Under Review With Positive Implications
OLDWICK, N.J.--(BUSINESS WIRE)--Aug 22, 2018--A.M. Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Sagicor Life Jamaica Limited (Kingston, Jamaica), a subsidiary of Sagicor Financial Corporation Limited.
The under review with positive implications status is in response to the potential impact on the balance sheet, business profile, operating performance and risk-based capital metrics of Sagicor Life Jamaica Limited following the change in A.M. Best’s country risk assessment of Jamaica. A.M. Best determines country risk levels by assessing country-specific factors that could adversely affect an insurer’s ability to meet its financial obligations. Country risk is evaluated and factored into all of A.M. Best’s Credit Ratings. Jamaica’s country risk assessment recently improved to a Country Risk Tier 4 from a Country Risk Tier 5.
The ratings will remain under review while A.M. Best conducts further reviews and assesses the potential impact of the change in the assessment of Jamaica on the ratings.
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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CONTACT: A.M. Best
Louis Silvers, +1 908 439 2200, ext. 5802
Senior Financial Analyst
Anthony McSwieney, +1 908 439 2200, ext. 5715
Senior Financial Analyst
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 08/22/2018 02:46 PM/DISC: 08/22/2018 02:46 PM