A.M. Best Affirms Ratings of ColinaImperial Insurance Ltd.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of ColinaImperial Insurance Ltd. (ColinaImperial) (Nassau, Bahamas For other uses of "Nassau", see Nassau (disambiguation). Nassau is the capital city and commercial center of the Commonwealth of the Bahamas. The city has a population of 210,832 (2000 census), nearly 70 percent of the entire population of the Bahamas (303,611). ). The outlook for both ratings is stable. ColinaImperial is a wholly-owned subsidiary of publicly-traded Colina Holdings Bahamas Limited (CHBL CHBL China High School Basketball League ), which is majority owned by AF Holdings Ltd. (AFH AFH Adaptive Frequency Hopping AFH Away From Home AFH Army Family Housing AFH Air Force Handbook AFH Atlantic Fish Health (Charlottetown, PEI, Canada) AFH Administration, Finance, and Human Resources ). CHBL is listed on BISX BISX Bahamas International Securities Exchange , the Bahamas stock exchange. These rating actions reflect ColinaImperial's integral position as the lead insurer within AFH, its adequate risk-adjusted capitalization, conservative reserving practices and its leading life/health market share in the Bahamas. As the life/health market leader and having operated in the Bahamas for over 40 years, ColinaImperial has established strong brand name recognition. Utilizing this brand value, AFH continues to seek opportunities to develop new geographic markets while identifying prospective acquisitions to expand its distributive dis·trib·u·tive adj. 1. a. Of, relating to, or involving distribution. b. Serving to distribute. 2. capacity and improve economies of scale. ColinaImperial's current financial position, operating performance and scale reflect the successful integration of several acquisitions in recent years. Partially offsetting these strengths is ColinaImperial's narrow geographic profile, the mature nature of the Bahamas life/health market, continuing integration challenges associated with acquisitions and the level of financial leverage at AFH. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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