AM Best Ratings for North American Fire & General and Life Insurance Companies

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb+" (Good) to North American Fire & General Insurance Company Limited (NAFICO) and North American Life Insurance Company Limited (NALICO). The outlook for these ratings remains stable, reflecting strong foundational metrics for both insurers.

NAFICO's ratings are underpinned by a very strong balance sheet bolstered by rigorous asset-liability management and robust reinsurance strategies. Despite facing investment risks from limited market security instruments, the favorable economic conditions in Guyana support NAFICO's position as a leading provider in property and casualty insurance, with significant market share in auto insurance coverage.

Similarly, NALICO's ratings highlight its solid balance sheet and effective operational performance, holding a neutral business profile with effective enterprise risk management. Offering a diverse portfolio in group and individual life, health insurance, and annuities, NALICO is positioned as a top firm in its respective market segment.

Both insurers are integral parts of the Edward B Beharry Group, a well-regarded local conglomerate. Their operational success is evident through positive performance metrics, including manageable loss ratios and consistent premium growth. AM Best indicates that changes in the companies’ risk-adjusted capitalization or operational results could influence future rating actions.

Detailed information about these ratings is available on AM Best’s website, which provides extensive resources and insights into credit assessments. Globally recognized, AM Best offers analytics and industry news from offices situated in major cities, offering valuable guidance for industry stakeholders. For more information, visit www.ambest.com.