A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of The Family Guardian Insurance Company Limited.
Family Guardian is a wholly owned subsidiary of Famguard Corporation Limited. The outlook for both ratings remains negative.
The rating affirmation reflects Family Guardian’s more-than-adequate level of risk-adjusted capitalization to support its investment and insurance risks, overall profitable and recently improving operating results and sustainable marketing presence as one of the two leading life insurance companies in the Bahamas. A.M. Best notes that the trends in profitability and stockholders’ equity continue to remain positive, with growth in stockholders’ equity over the past five years despite dividend payments.
