A.M. Best Places Ratings of Sagicor General Insurance (Cayman) Ltd Under Review With Negative Implications

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Sagicor General Insurance (Cayman) Ltd (Sagicor Cayman) (Cayman Islands) under review with negative implications.

The rating actions follow the announcement that Sagicor Cayman’s parent, Sagicor Life Jamaica Limited, has entered into a share purchase agreement with Bahamas First Holdings Limited (BFH) for the sale of Sagicor Cayman.

The ratings will remain under review pending the closing of the transaction and A.M. Best’s discussion with BFH management regarding its strategic plans for Sagicor Cayman and its future role within the BFH group.

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.