{"id":1552,"date":"2021-06-28T12:40:04","date_gmt":"2021-06-28T11:40:04","guid":{"rendered":"http:\/\/109.228.53.96\/bahamas-first\/?p=1552"},"modified":"2021-06-28T16:16:31","modified_gmt":"2021-06-28T15:16:31","slug":"am-best-affirms-bahamas-first-holdings-a-excellent-financial-strength-rating-ratings-outlook-remains-stable-consolidated-balance-sheet-strength-assessed-as-strongest","status":"publish","type":"post","link":"http:\/\/109.228.53.96\/bahamas-first\/am-best-affirms-bahamas-first-holdings-a-excellent-financial-strength-rating-ratings-outlook-remains-stable-consolidated-balance-sheet-strength-assessed-as-strongest","title":{"rendered":"AM Best Affirms Bahamas First Holdings A- (Excellent) Financial Strength Rating"},"content":{"rendered":"

Ratings outlook remains \u2018stable\u2019
\nConsolidated Balance Sheet strength assessed as \u2018strongest\u2019
\n<\/strong><\/p>\n

NASSAU, June 25, 2021 \u2013 Bahamas First Holdings Limited is pleased to announce that global credit rating agency AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of \u201ca-\u201d of its property\/casualty operating subsidiaries Bahamas First General Insurance Company Limited (BFG) and Cayman First Insurance Company Limited (CFI). The outlook of these ratings is stable.<\/p>\n

AM Best\u2019s ratings are based on a detailed analysis of the Group\u2019s consolidated balance sheet strength (which AM Best categorizes as \u201cstrongest\u201d), as well as the Group\u2019s operating performance, business profile and enterprise risk management. In its 2021 review, AM Best described the Group\u2019s operating performance as \u201cfavorable despite an economic shutdown in the Bahamas and Cayman Islands from the COVID-19 pandemic.\u201d AM Best also highlighted the Group\u2019s sound risk-adjusted capitalization and sustained \u201chistory of solid earnings supported by underwriting gains and investment income\u201d which, it identifies, as resulting in the Group\u2019s solid profitability metrics, including its five-year average return metrics.<\/p>\n

\u201cThe affirmation of our A- rating and stable outlook is an important recognition of our consistent financial performance even during these uncertain economic times,\u201d said Patrick G. Ward, Group President and Chief Executive Officer of Bahamas First Holdings. \u201cAM Best’s continued positive assessment of our financial strength attests that the Bahamas First Group is\u00a0 well-capitalized with a promising outlook for growth and success well into the future, and gives policyowners and shareholders the assurance that we will continue to be here for them to deliver on the promises we’ve made.\u201d<\/p>\n

The 2021 report also highlights the Group\u2019s \u201cleading market positions and operations in The Bahamas and Cayman Islands\u201d and product and geographic diversification, which have helped to stabilize earnings through market cycles and reduce the impact of catastrophic events. AM Best concluded that it \u201canticipates that the Group will continue to produce favorable earnings in non-catastrophe years, and that its risk management capabilities and comprehensive reinsurance program will continue to keep its balance sheet strength at the strongest level.\u201d<\/p>\n

For more information, view the AM Best press release here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

NASSAU, June 25, 2021 \u2013 Bahamas First Holdings Limited is pleased to announce that global credit rating agency AM Best has affirmed the Financial Strength Rating of…<\/p>\n","protected":false},"author":2,"featured_media":1558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nAM Best Affirms Bahamas First Holdings A- (Excellent) Financial Strength Rating - Bahamas First<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/109.228.53.96\/bahamas-first\/am-best-affirms-bahamas-first-holdings-a-excellent-financial-strength-rating-ratings-outlook-remains-stable-consolidated-balance-sheet-strength-assessed-as-strongest\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AM Best Affirms Bahamas First Holdings A- (Excellent) Financial Strength Rating - 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