Press Release - FEBRUARY 13, 2015

A.M. Best Affirms Ratings of Trinidad & Tobago Insurance Limited

 Scott Mangan
Senior Financial Analyst
(908) 439-2200, ext. 5593

Peter Dickey
Assistant Vice President
(908) 439-2200, ext. 5053
Christopher Sharkey
Manager, Public Relations
(908) 439-2200, ext. 5159

Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644


A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Trinidad & Tobago Insurance Limited (TATIL) (Trinidad). The outlook for both ratings is stable.

The ratings reflect TATIL's history of profitable overall operating performance, solid capitalization and the support it receives from its ultimate parent, ANSA McAL Limited (AMCL). AMCL is one of the largest diversified companies in the Caribbean and is publicly traded on the Trinidad & Tobago Stock Exchange.

TATIL has consistently produced favorable overall earnings, driven by strong underwriting and stable investment income. TATIL's surplus has steadily appreciated and it maintains a strong level of risk-adjusted capitalization as measured by Best's Capital Adequacy Ratio. TATIL benefits from support provided by AMCL in functional areas such as information technology and investment services.

Partially offsetting these positive rating factors is the geographic concentration of TATIL's operations, its continuing challenge to maintain market share in extremely competitive markets and the potential impact from exposure to catastrophic events.

While the outlook for TATIL's ratings is stable, positive rating actions could occur if the company outperforms its Caribbean peers, maintains strong capitalization and there is an improvement in the Trinidad & Tobago country risk tier. Negative rating actions could occur if there is a material decline in TATIL's risk-adjusted capitalization or operating performance, outsized catastrophic losses when compared to peers or a downgrade of the Trinidad & Tobago country risk tier.

The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at

Key insurance criteria reports utilized:

  • Catastrophe Analysis in A.M. Best Ratings

  • Evaluating Non-Insurance Ultimate Parents

  • Evaluating Country Risk

  • Risk Management and the Rating Process for Insurance Companies

  • Understanding BCAR for Property/Casualty Insurers

  • Understanding Universal BCAR

This press release relates to rating(s) 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 visit A.M. Best's Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.

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AMB# Company Name
055782 ANSA McAL Limited
084218 Trinidad & Tobago Ins Ltd