The Beacon Insurance Company Limited

RATING ACTION:

On June 13, 2025, CariCRIS reaffirmed the Issuer/Corporate Credit Ratings assigned to The Beacon Insurance Company Limited (BICL or Beacon or the Company) at CariA- (Foreign and Local Currency Ratings) on the regional rating scale and ttA- (Local Currency Rating) on the Trinidad and Tobago national scale. CariCRIS also reaffirmed the Financial Strength Rating assigned to Beacon at CariA-. A stable outlook was maintained.

Download Full Rating Rationale

RATING SENSITIVITY FACTORS:

Factors that could, individually or collectively, lead to an improvement in the Ratings and/ or Outlook include:

• An improvement in the market share of general insurance products in Beacon’s largest market to 10% or more
• An improvement in the overall credit profile for Beacon’s fixed income portfolio where more than 65% of the portfolio is rated investment grade on the Standard and Poor’s (S&P) rating scale, sustained for 1 financial year
• Increased profitability leading to an improvement in Return on Earning Assets (ROEA) and Return on Equity (ROE) to above 2.5% and 10% respectively, sustained for 2 financial years

Factors that could, individually or collectively, lead to a lowering of the Ratings and/ or Outlook include:

• A 2-notch deterioration of the credit rating of Beacon’s top reinsurer
• Loss of relationship with any of the Company’s major reinsurers and failure to provide viable replacements
• Lowered profitability leading to a deterioration in ROEA and ROE to below 0.5% and 3.5% respectively, sustained for 2 financial years

Megan Dass
Mobile : 1-868-713-6863
[email protected]