News Releases
Premier Insurance Assigned gyA+ Rating by CariCris.
First Guyanese Insurance Company to be Rated
Monday 25th July, 2022.
The TRINRE/Premier Group is pleased to announce that Premier Insurance has been assigned initial corporate credit ratings of gyA+ (Local Currency Rating) and gyA (Foreign Currency Rating) on the Guyana national scale by the Caribbean Information and Credit Rating Services Limited (CariCRIS), making the company the only rated insurer in Guyana.
In issuing the ratings, CariCRIS confirmed that, “The level of creditworthiness of this obligor, adjudged in relation to other obligors in Guyana is good.”
Premier’s ratings were based on its:
- Strong Corporate Governance, risk, and compliance foundation
- Robust policies and procedures
- Sound and strict underwriting principles
- State-of-the-art ICT systems and support
- Advanced stages of preparation for IFRS 17 implementation
- A diverse and growing investment portfolio, with good returns and liquidity
- Profitable operations in its first year supported by strong growth prospects in Guyana
- Its strong affiliation with its parent company, TRINRE Insurance Company Limited
CariCRIS also assigned a stable outlook on the ratings and expects Premier to continue to be profitable over the next 12 to 15 months.