AM Best Places Credit Ratings of British Caribbean Insurance Company Limited Under Review With Developing Implications

AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of British Caribbean Insurance Company Limited (BCIC) (Jamaica).

The action taken on these Credit Ratings (ratings) is due to the announced completion of BCIC’s acquisition of JN General Insurance Company (JNGI) on June 11, 2025. While the two organizations currently operate independently, it is expected that there will be an amalgamation of BCIC and JNGI into one legal entity.

AM Best has placed these ratings under review with developing implications pending completion of its discussions with management as to the business strategy for the combined operations and the impact of the amalgamation on BCIC’s balance sheet strength, operating performance, business profile and its enterprise risk management. The ratings will remain under review with developing implications until the completion of any amalgamation and AM Best’s discussions with management about the strategic and financial plans for the combined organization.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Jennifer Asamoah

Senior Financial Analyst

+1 908 882 1637

jennifer.asamoah@ambest.com

Bridget Maehr

Director

+1 908 882 2080

bridget.maehr@ambest.com

Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

christopher.sharkey@ambest.com

Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

al.slavin@ambest.com

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