Nov 4, 2024 – BCIC today announced that its financial strength rating has been reaffirmed as B++ (Good) by AM Best, a global credit rating agency specializing in the insurance industry. The rating reflects the company’s very strong balance sheet strength, strong operating performance, limited business profile and appropriate enterprise risk management (ERM).  

“This reaffirmation of our B++ rating validates our prudent financial management and strong market position,” said Peter Levy, BCIC Managing Director. “AM Best’s assessment particularly notes our consistent underwriting gains and conservative investment approach, demonstrating our commitment to financial stability for our policyholders.”

AM Best highlighted BCIC’s position as “a top player in Jamaica, with strong market share in both its property and motor segments.” The rating agency also recognized BCIC’s strong operating results and very strong balance sheet strength. The rating agency’s stable outlook reflects BCIC’s established market presence and continued focus on sustainable growth through prudent risk management and strategic investments in operational efficiency.

AM Best’s rating affirms BCIC’s position as a financially secure and reliable insurance provider. BCIC ended 2023 as the number one general insurer in Jamaica and the company continues to demonstrate its commitment to providing high-quality insurance products and services to its customers.