{"id":2423,"date":"2025-06-09T09:37:38","date_gmt":"2025-06-09T13:37:38","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2423"},"modified":"2025-06-19T09:40:45","modified_gmt":"2025-06-19T13:40:45","slug":"nagico-holdings-limited-2","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/nagico-holdings-limited-2\/","title":{"rendered":"NAGICO Holdings Limited"},"content":{"rendered":"<p><strong>RATING ACTION:<\/strong><\/p>\n<p>On December 5, 2024, CariCRIS assigned initial issuer\/corporate credit ratings of CariA- (Foreign and Local Currency Ratings) on the regional rating scale to NAGICO Holdings Limited (NHL or the Group). A Stable Outlook was assigned.<\/p>\n<p><strong>RATING SENSITIVITY FACTORS:<\/strong><br \/>\n<strong>Factors that could, individually or collectively, lead to an improvement in the\u00a0Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul>\n<li>Increase in operating profit margin to 10% and over for 2 consecutive years<\/li>\n<li>Decline in cost to income ratio sustained at &lt; 55% for 2 consecutive years<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering\u00a0of the Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul>\n<li>Reduction in the credit quality of NHL\u2019s financial investment portfolio<\/li>\n<li>Loss of relationship with major reinsurers and failure to provide viable replacements<\/li>\n<li>A 2-notch deterioration of the credit rating of any of NHL\u2019s major reinsurers by Standard and Poor\u2019s Ratings Services<\/li>\n<li>A deterioration of any of the subsidiary\u2019s capital adequacy ratio to below minimum regulatory requirements<\/li>\n<li>Substantial deterioration in consolidated financial performance leading to an operating loss margin of -10% or below for 2 consecutive years<\/li>\n<li>Material deterioration in the financial performance and position of its main subsidiary, NAGICO Insurance Company Limited which accounted for 53.5% of total revenue in 2023.<\/li>\n<\/ul>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/p>\n<p>Anelia Oudit<br \/>\nMobile: 1-868-487-8364<br \/>\naoudit@caricris.com<\/p>\n<p>Keevan Roopan<br \/>\nkroopan@caricris.com<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Disclaimer:<\/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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On December 5, 2024, CariCRIS assigned initial issuer\/corporate credit ratings of CariA- (Foreign and Local Currency Ratings) on the regional rating scale to NAGICO Holdings Limited (NHL or the Group). A Stable Outlook was assigned. RATING SENSITIVITY FACTORS: Factors that could, individually or collectively, lead to an improvement in the\u00a0Ratings and\/ or Outlook [&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-2423","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>NAGICO Holdings 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\/nagico-holdings-limited-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAGICO Holdings Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On December 5, 2024, CariCRIS assigned initial issuer\/corporate credit ratings of CariA- (Foreign and Local Currency Ratings) on the regional rating scale to NAGICO Holdings Limited (NHL or the Group). 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