{"id":1969,"date":"2023-07-31T18:58:40","date_gmt":"2023-07-31T22:58:40","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1969"},"modified":"2025-05-05T18:59:30","modified_gmt":"2025-05-05T22:59:30","slug":"the-beacon-insurance-company-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/the-beacon-insurance-company-limited-3\/","title":{"rendered":"The Beacon Insurance Company Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p>On June 15, 2023, CariCRIS reaffirmed the assigned ratings of <em>Cari<\/em><strong>A-<\/strong> (Foreign and Local Currency Ratings) on the regional rating scale, and <em>tt<\/em><strong>A-<\/strong> on the Trinidad and Tobago (T&amp;T) national scale for <strong>The Beacon Insurance Company Limited. <\/strong>A<strong> stable<\/strong> outlook was maintained.<\/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>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An improvement in the market share of general insurance products in its largest market, T&amp;T to 10% or more.<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Enhancement of Beacon\u2019s risk management through the complete rollout of an enterprise risk management system.<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An improvement in the overall credit profile for Beacon\u2019s fixed income portfolio where more than 60% of the portfolio is rated investment grade on the S&amp;P rating scale.<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Increased profitability leading to an improvement in ROA and ROE to above 2.5% and 10% respectively for the next financial year.<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to a lowering of the ratings\/or outlook include:<\/strong><\/span><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A 2-notch deterioration of the credit rating of Beacon\u2019s top reinsurer.<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A deterioration of the company\u2019s capital adequacy ratio to 150% or lower on a sustained basis for at least 6 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 and failure to provide viable replacements.<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A second consecutive year of the Company reported a loss after tax.<\/span><\/li>\n<\/ul>\n<h5><strong>Analysts\u2019 Contact Info:<\/strong><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Keith Hamlet<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Mobile : 1-868-487-4356<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:khamlet@caricris.com\">kha<span style=\"font-size: 8pt;\">mlet@caricris.com<\/span><\/a><span style=\"font-size: 8pt;\">\u00a0\u00a0\u00a0<\/span><\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Sultan Mohammed<\/span><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Mobile\u00a0: 1-1868-362-7304<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><span style=\"font-size: 8pt;\"><a href=\"mailto:smohammed@caricris.com\">smohammed@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\"><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; font-size: 8pt;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong><\/span><\/p>\n<p><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\"><strong>Disclaimer<\/strong><strong>:<\/strong> CariCRIS has taken due care and caution in the 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><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the assigned ratings of CariA- (Foreign and Local Currency Ratings) on the regional rating scale, and ttA- on the Trinidad and Tobago (T&amp;T) national scale for The Beacon Insurance Company Limited. A stable outlook was maintained. RATING SENSITIVITY FACTORS: Factors that could, individually or collectively, lead to [&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-1969","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>The Beacon 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\/the-beacon-insurance-company-limited-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Beacon Insurance Company Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the assigned ratings of CariA- (Foreign and Local Currency Ratings) on the regional rating scale, and ttA- on the Trinidad and Tobago (T&amp;T) national scale for The Beacon Insurance Company Limited. 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