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"GUARDIAN Life of the Caribbean Ltd and Guardian General Insurance Ltd have both had their financial strength rated as “excellent” by AM Best.“AM Best, the globally-recognised credit rating agency, has reaffirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) at “a-” (Excellent) for both Guardian Life of The Caribbean Ltd and Guardian General Insurance Ltd,” a release from the company stated yesterday.“These ratings reaffirmed to Guardian Life of The Caribbean Ltd and Guardian General Insurance Ltd underscore the strength of the companies’ balance sheets, and acknowledge the robust operating performance, neutral business profile, and the effectiveness of their enterprise risk management practices,” it stated.AM Best also upheld the Long-Term ICR of “bbb-” (Good) for Guardian Holdings Ltd, the holding company that serves as the parent entity for both Guardian Life of The Caribbean Ltd and Guardian General Insurance Ltd.“Guardian Holdings Ltd and its subsidiaries are grateful for the trust placed in us by our policyholders, partners, and stakeholders. Our commitment to financial stability and excellence remains steadfast, and we will continue to deliver on our promise of safeguarding the financial well-being of our policyholders. We look forward to building upon our solid foundation and upholding the highest standards of quality and integrity in the insurance industry,” the release stated.The AM Best rating comes on the heels of political leader of the United National Congress (UNC) Kamla Persad-Bissesar questioning the financial stability of the Guardian Group following recent changes to the board of its parent company, the NCB Financial Group.NCBFG’s interim chief executive officer, Robert Almeida, is also the chairman of Guardian Holdings Ltd.Guardian Holdings’ chief executive officer Ian Chinapoo in an interview with the Express assured that the group, even in the face of recent concerns, remains both stable and reliable.“At the end of the day we know who we are, we know we are very, very, very strong, we know our investments are all over the world, we know that we are well diversified, we know that we have a business that has honoured every single claim,” Chinapoo told the Express during a sit-down interview at his Westmoorings office.“So, for example, just for the six months before we have paid out over $1.7 billion in claim settlements; $1.3 billion in that is life claims and health, and about $400 million in that is property and casualty, so when you are paying out $1,700 million in six months in claims you need to have a very strong balance sheet and to be still making profit,” he said.For the six months ended June 30, Guardian Holdings made a profit of $250.9 million.This was a 95 per cent increase for the comparative half-year period last year.Chinapoo said the company’s 176-year history has shown that they have been here for a long time and intend to be here even longer.In a news conference last month, Finance Minister Colm Imbert revealed that he wrote the Central Bank to determine if there was any validity to the concerns raised by Persad-Bissessar.The Central Bank—in its responses, Imbert said—was confident that Guardian Holdings remains in a secure financial position.Imbert, however, chose strong words for Persad-Bissessar’s claims, deeming them “arrant nonsense”." To read more, please <a href="https://trinidadexpress.com/business/local/guardian-life-financial-strength-excellent/article_fd136c96-4b88-11ee-b0c2-c7849bac57be.html" rel="noopener noreferrer" target="_blank">https://trinidadexpress.com/business/local/guardian-life-financial-strength-excellent/article_fd136c96-4b88-11ee-b0c2-c7849bac57be.html</a>

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Guardian Life financial strength ‘excellent’ - Globally-recognised credit rating agency AM Best: