{"id":1938,"date":"2023-10-04T17:44:47","date_gmt":"2023-10-04T21:44:47","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1938"},"modified":"2025-05-03T18:14:09","modified_gmt":"2025-05-03T22:14:09","slug":"colonial-fire-general-insurance-company-limited","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/colonial-fire-general-insurance-company-limited\/","title":{"rendered":"Colonial Fire &#038; General Insurance Company Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On September 14, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of <em>Cari<\/em><strong>A<\/strong> (Foreign &amp; Local Currency Ratings) on the regional scale and <em>tt<\/em><strong>A<\/strong> (Foreign &amp; Local Currency Ratings) on the Trinidad and Tobago national scale to <strong>Colonial Fire &amp; General Insurance Company Limited (Colfire or the Company). <\/strong>A stable outlook was assigned.<\/span><\/p>\n<p class=\"badge\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to an improvement in the ratings and \/or outlook include:<\/strong><\/span><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-family: 'book antiqua', palatino;\">An improvement in the credit rating of the Government of the Republic of Trinidad and Tobago<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Sustained growth in PAT by &gt;15% for two consecutive years without impacting other financial health indicators like capital adequacy and asset quality<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline; font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to a lowering of the ratings and \/or outlook include:<\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A lowering of the credit rating of the Government of the Republic of Trinidad and Tobago<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A 2-notch deterioration of the credit rating of any of Colfire\u2019s top 3 reinsurers by Standard and Poor\u2019s Ratings Services<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A sustained deterioration in the Company\u2019s regulatory capital adequacy ratio below 150% over the next 12 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Loss of relationship with any of the Company\u2019s major reinsurers due to issues relating to the accessing foreign exchange<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A 15% fall in Motor Premium Income<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A more than 10.6% decline in operating profit over the next 12-15 months leading to another LAT<\/span><\/li>\n<\/ul>\n<h4><strong>Analysts\u2019 Contact Info:<\/strong><\/h4>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Mobile : 1-868-487-8364<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a> \u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Brandon Singh<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:bsingh@caricris.com\">bsingh@caricris.com<\/a> \u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><strong>\u00a0 <\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong><\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\"><strong>Disclaimer<\/strong><strong>:<\/strong> CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable.\u00a0 However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.\u00a0 No part of this report may be published \/ reproduced in any form without CariCRIS\u2019 prior written approval.\u00a0 CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers\/ users\/ transmitters\/ distributors of this product.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On September 14, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of CariA (Foreign &amp; Local Currency Ratings) on the regional scale and ttA (Foreign &amp; Local Currency Ratings) on the Trinidad and Tobago national scale to Colonial Fire &amp; General Insurance Company Limited (Colfire or the Company). A stable outlook was assigned. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-1938","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Colonial Fire &amp; General Insurance Company Limited - CariCRIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/colonial-fire-general-insurance-company-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colonial Fire &amp; General Insurance Company Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On September 14, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of CariA (Foreign &amp; Local Currency Ratings) on the regional scale and ttA (Foreign &amp; Local Currency Ratings) on the Trinidad and Tobago national scale to Colonial Fire &amp; General Insurance Company Limited (Colfire or the Company). A stable outlook was assigned. 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