Hand-in-Hand, Guyana’s first insurance organisation (established 1865) is proud to announce another first for Guyana. The Hand-in-Hand Mutual Fire Insurance Company Ltd (HIH Fire) and the Hand-in-Hand Mutual Life Assurance Company Ltd (HIH Life) have both become AM Best-rated insurers.
AM Best is the global gold standard for rating insurance companies. On August 26th, 2022, upon completion of their analysis of HIIF and HIHL, AM Best published a press release which stated, “The ratings of HIH Fire and Life Companies reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management.” The agency also stated that, “the companies’ balance sheet strength assessment of very strong reflects each of their stable capital bases, with responsible asset-liability management and proper reinsurance coverages.” Source: AM Best.
The chairman of the Hand-in-Hand Group, Mr. John Carpenter AA, remarked, “We are extremely proud to be the first Guyanese insurers to become AM Best rated. This rating is important for Guyana, as we grow as an oil-producing nation. Ratings from such an independent and prestigious agency as AM Best, provides another measure of our strength, reliability, and commitment to serve our loyal customers with excellence.” The chairman noted that the Group’s current Long-Term Issuer Credit Rating of bbb+ incorporates Guyana’s level of country risk, which AM Best continues to monitor as the country’s oil boom develops.
The Hand-in-Hand Group will continue to lead as pioneering insurers of superior, reliable, and affordable insurance products and services, to safeguard our valued policyholders.
AM Best is the world’s oldest and most authoritative insurance rating and information source. For more information on this agency, please visit www.ambest.com.
You may also review the full press release by AM Best on their website.
