AM Best Affirms Credit Ratings of Trinidad & Tobago Insurance Limited

OCTOBER 07, 2026 03:49 PM (EDT)

AM Best Affirms Credit Ratings of Trinidad & Tobago Insurance Limited

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FOR IMMEDIATE RELEASE

OLDWICK - OCTOBER 07, 2026 03:49 PM (EDT)
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Trinidad & Tobago Insurance Limited (TATIL) (Trinidad and Tobago). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect TATIL's balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

TATIL's balance sheet strength assessment is supported by its risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), at the strongest level. The organization's capital strength is driven by solid operating gains and to some extent the synergies of the integration of certain internal functions of Colonial Fire and General Insurance Company Limited (COLFIRE), which it acquired in 2023. This has resulted in cost reductions and performance improvements in those areas fully integrated. TATIL's reinsurance structure is designed to protect the company against material catastrophe risks. Although, the company has a reliance on reinsurance and higher reinsurance counter-party risk, which is offset by the use of high-quality reinsurance partners. While both absolute and risk-adjusted capitalization have continued to grow, capital growth has been constrained somewhat by dividend payments to its parent, ANSA Merchant Bank Limited. Though TATIL's investment portfolio is managed by an affiliated company and primarily allocated to high-credit quality fixed income securities, diversified funds and cash and short-term investments, the company has some exposure to high-risk domestic investments.

TATIL provides a diversified portfolio of products, including property, motor and accident and health, in Trinidad and Tobago, as well as Barbados. However, the majority of TATIL's business is written in Trinidad and Tobago, and its property segment accounts for over half of the company's gross written premium. The acquisition of COLFIRE added to the organization's concentration in Trinidad and Tobago, however, it also strengthened the market position of the combined companies in both jurisdictions.

TATIL's operating performance is assessed as strong. TATIL's earnings have been favorable yet somewhat uneven year over year. The company's recent performance has been affected by pricing action in its motor book of business, and its loss ratios and combined ratios continue to trend and hold at more favorable levels from just a few years ago. The organization should recognize additional operational efficiencies as TATIL progresses toward full amalgamation with COLFIRE. Furthermore, TATIL has reported consistent investment income, which has contributed favorably to earnings.

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.