GraceKennedy

Jamaica International Insurance Company Limited, GraceKennedy’s general insurance subsidiary has been given a B++ rating from the credit rating agency A.M. Best.

According to A.M. Best, JIIC has good Financial Strength Rating (FSR) with a stable outlook. Additionally JIIC’s Issuer Credit Rating (ICR) has also been affirmed to have a stable outlook.

JIIC received word of this rating through a letter from the US-based Nationally Recognized Statistical Rating Organization (NRSRO) dated August 12, 2010. The letter stated that “The rating reflects Jamaica International Insurance Company Limited's (JIIC) adequate capitalization, historical overall profitability and financial flexibility as a result of the support and commitment of its ultimate parent, GraceKennedy Limited (GK), one of the leading business conglomerates in the region.”

JIIC has consistently maintained an A.M. BEST rating of B++ since 2004.

A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. It is devoted to issuing in-depth reports and financial strength ratings about insurance organizations.