AM Best, one of the world’s leading rating agencies for insurance companies, has once again given its re-affirmation of the financial strength and stability of Massy United Insurance Ltd.
This rating of A- (Excellent) with a stable outlook reflects the regional insurance company’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance and appropriate enterprise risk management.
This rating affirmation follows a strong financial result for the regional company in its financial year ended September 2020, when it achieved18 per cent growth and expanded its asset base to US$313 million.
This performance was despite consecutive years of natural disasters, macroeconomic disruptions in the region as well as the challenges caused by the COVID-19 pandemic.
An A-rating from AM Best is reserved for only the strongest, most financially secure insurance providers. Massy United Insurance has an exceptional track record of helping customers rebuild their homes and businesses after disruptive events like hurricanes, floods, earthquakes, theft, fire and more.
This rating confirms, as the company continually demonstrates, that it has the organisational and financial capacity to respond promptly to major catastrophes and pay legitimate claims.
“This one means a lot to us,” said Randy Graham, Chief Executive Officer of Massy United Insurance as he remarked on the rating affirmation.
“The COVID-19 pandemic has caused so much adversity throughout the world, but not only did the staff of Massy United tackle this adversity, they found a way to excel and grow in the face of it.
With all the global challenges and economic uncertainty, we kept our staff employed, we kept them safe, and we protected our customers. We’ve paid many legitimate claims ranging from Hurricane Elsa to volcanic eruption; all of which helped our customers get back on their feet,” Graham added.
“For us the affirmation of our AM Best ratings shows that Massy United has the financial strength to continue to support our staff and the claims of our many customers for a long time to come.
I would like to take this opportunity to thank all of our staff, our long-standing clients and the technical team at AM Best who conducted our review. Well done team Massy United!”
Headquartered in Barbados, Massy United Insurance Ltd. is one of the Caribbean’s largest general insurance companies, offering personal and commercial insurance solutions for individuals, families, businesses and organisations of just about every form and size.
The company offers a range of products and services for home, motor, business, marine, accident and engineering classes of insurance and operates in 19 territories throughout the English- and Dutch-speaking Caribbean. (PR)
