Source: Date: Updated: |
cayCompass
Wednesday, January 8, 2014
Wednesday, January 8, 2014
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08 January, 2014 (cayCompass) — The ratings of Cayman First recognize its improved capitalization and positive non-health operating results along with its expertise in the Cayman market, AM Best said. Cayman First’s ratings also reflected improvements in the company’s health business and the winding down of litigation from prior ownership, which continues to have a negative impact on the company’s earnings and capital position, the rating agency noted.
Potential negative rating triggers for Cayman First include deterioration in its operating results, in particular from its accident and health business, or a decline in equity resulting in increased leverage metrics. Positive rating triggers would include continued improved profitability and organic surplus appreciation.
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