Best’s News & Research Service - April 09, 2026 10:20 AM (EDT)
AM Best Affirms Credit Ratings of Coralisle Group Ltd.’s Subsidiaries
- April 09, 2026 10:20 AM (EDT)
//BestWire// - AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the life/health and property/casualty subsidiaries of Coralisle Group Ltd. (CG). The outlook of these Credit Ratings (ratings) is stable. CG is a wholly owned intermediate holding company of Edmund Gibbons Limited, the ultimate parent company. All companies are domiciled in Bermuda unless otherwise specified. (See below for a detailed listing of these companies).
The ratings reflect CG’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
On a consolidated basis, CG demonstrates the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by good liquidity, nominal financial leverage that was comprised of lease liabilities, and access to a revolving credit facility. Similar to its Caribbean peers, CG maintains high reinsurance dependence, particularly in its property business, given its exposure to catastrophe-prone geographic areas. CG manages its exposure through a comprehensive reinsurance program with high-quality reinsurance partners.
CG’s financial performance remained favorable in 2024, with operating performance improving year-over-year, driven by a combination of premium growth, a minimal impact from catastrophe events and investment income being accretive to earnings. Earnings are also expected to remain favorable for the year-end 2025 results when reported, despite the impact from two catastrophe events — Hurricanes Beryl in 2024 and Melissa in 2025.
CG maintains its neutral business profile through a strong market position in its core Bermuda market across the property/casualty, pension and health businesses. Furthermore, the organization’s expanded footprint in the southern Caribbean, through CG United Insurance Ltd., provides geographic diversification and opportunities to cross-sell products.
The FSR of A (Excellent) and Long-Term ICR of “a” (Excellent) have been affirmed with stable outlooks for the following subsidiaries of Coralisle Group Ltd.:
· British Caymanian Insurance Company Limited (Cayman Islands)
· CG Atlantic General Insurance Ltd. (The Bahamas)
· CG Atlantic Medical & Life Insurance Ltd. (The Bahamas)
· CG United Insurance Ltd. (Barbados)
· Coralisle Insurance (BVI) Ltd. (British Virgin Islands)
· Coralisle Insurance Company Ltd.
· Coralisle Life Assurance Company Ltd.
· Coralisle Medical Insurance Company Ltd.
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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings (BCR), Best’s Performance Assessments (PA), Best’s Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.