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NCBIC Receives Best Company Insurance Ranking

Published:Monday | August 10, 2015 | 1:16 PM
FILE; Vernon James (right).

A.M. Best Company is a global credit-rating agency. It has a unique focus on the insurance industry with more than 100 years of history affirming it a respected source. NCB Insurance Company Limited (NCBIC) currently has one of the highest rankings in the insurance industry, for the 2015-2016 period, with Best's Financial Strength rating of 'B' and Best's Issuer Credit Rating of 'BB+', with an overall stable outlook by Best's Credit Rating, a registered trademark of A.M. Best Company.

Best's Credit Ratings represent the company's assessment of an insurer's ability to meet its obligations to policyholders.

The rating process involves quantitative and qualitative reviews of a company's balance sheet, operating performance and business profile, including comparisons to peers,, industry standards and assessments of an insurer's operating plans, philosophy and management.

It includes financial-strength ratings, issuer credit ratings and debt ratings. The ratings for NCBIC are based on the company's strong capitalisation, as measured by regulatory models and A.M. Best's capital tools, in addition to a historically stable operating profile.

In acknowledging the accomplishment Vernon James, managing director and CEO, of NCBIC, stated:

"I am proud of the rating as it represents confidence in the strength of our organization and aligns the brand with international best practices. It also represents a vote of confidence in our

strategic direction, and we look forward to improving our

performance and, ultimately, our rating going forward, as this will be leveraged for the benefit of our stakeholders."

In addition to the A.M. Best Rating, NCBIC, for the third time, received the World Finance

Award for Best Pension Fund (2015), reinforcing the fact that NCBIC is the Caribbean's top-performing pension fund managers. This is a testament of the continued improvement in people, portfolio management and the general commitment to the individuals and companies served.

NCBIC is steadfast in assisting its customers and stakeholders to put their best life forward.