A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating of “a-” to **ColinaImperial Insurance Ltd.**, with both ratings having a stable outlook. The release issued by A.M. Best points out that these ratings of ColinaImperial reflect its role as the lead insurer within CFG, its leading life and health market share in the Bahamas, its adequate risk-adjusted capitalization and conservative reserving practices.
ColinaImperial is a wholly-owned subsidiary of Colina Holdings Bahamas Limited (CHBL), which is 63% owned by the Colina Financial Group Ltd. (CFG). CHBL is a public company listed on The Bahamas International Securities Exchange (BISX).
A.M. Best further states that ColinaImperial has established strong name recognition in the Bahamas and continues to capitalise on that by seeking new opportunities to develop additional geographic markets while targeting new acquisitions to expand its distribution capacity and improve economies of scale. With the 2005 acquisition of the Bahamas operations of Imperial Life Financial, ColinaImperial enhanced its position in the local market and is the leading life and health insurer in the Bahamas.
A.M. Best Co., established in 1899, is considered the world’s oldest and most authoritative insurance rating and information source.