Guyana’s first insurance company, Hand-in-Hand, gets very strong rating from AM Best

See the full statement from hand in hand below:

Hand-in-Hand, Guyana’s first insurance organization (established 1865), is once again proud to announce that both the Hand-in-Hand Mutual Fire Insurance Company Ltd. (HIH Fire) and Hand-in-Hand Mutual Life Assurance Company Ltd. (HIH Life) issuer’s credit ratings of bbb+ (Good) have been affirmed by AM Best, with a balance sheet assessment of ‘very strong’. These achievements confirm the Hand-in-Hand Mutual Companies as the only AM Best rated indigenous Guyanese companies.

On September 8th, 2023, upon completion of their annual review and assessment of the HIH Fire and HIH Life Companies, AM Best published a press release titled “AM Best affirms credit ratings of The Hand-in-Hand Mutual Fire Insurance Company Limited and Hand-in-Hand Mutual Life Assurance Company Limited”. The release went on to state, “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. AM Best is the global gold standard for rating insurance companies.

These ratings are important for the Hand-in-Hand Group, as we continue to grow as an oil-producing nation. Ratings from such an independent and prestigious agency as AM Best provide another measure of our strength, reliability, and commitment to serve our loyal customers with excellence. The Group’s current Long-Term Issuer Credit Rating of bbb+ incorporates Guyana’s level of country risk, which AM Best continues to monitor.

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 our website www.hihgy.com.