Hand-in-Hand Fire and Life Insurance achieves AM Best rating
The Hand-in-Hand Mutual Fire Insurance Company Ltd (HIHF) and Hand-in-Hand Mutual Life Assurance Company Ltd (HIHL) have both become AM Best-rated insurers.
AM Best has assigned a Financial Strength Rating of B++ (Good) and Long-Term Issuer Credit Ratings of “bbb+” (Good) to the two entities which forms part of the Hand-in-Hand Group of Companies, Guyana’s first insurance organisation.
“The ratings of HIHF reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM),” AM Best said in a press release on August 26, 2022.
“The ratings of HIHL reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate ERM,” the release added.
Chairman of the Hand-in-Hand Group, John Carpenter remarked that the company is “extremely proud” to become AM Best rated and that is important for Guyana as the country grows as an oil and gas nation, a press release from Hand-in-Hand on Wednesday noted.
“Ratings from such an independent and prestigious agency as AM Best, provides another measure of our strength, reliability, and commitment to serve our loyal customers with excellence,” Carpenter is quoted as saying in the release.