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Caricris reaffirms Trinre’s ‘good creditworthiness’ rating

by

#meta[ag-author]
Geisha Kowlessar-Alonzo
20230120124413
20230120
Trinre Insurance

Trinre Insurance

The Caribbean In­for­ma­tion and Cred­it Rat­ing Ser­vices Ltd (Cari­cris) has reaf­firmed an over­all ‘good cred­it­wor­thi­ness’ rat­ing for Trinre In­sur­ance Com­pa­ny Ltd.

These rat­ings in­di­cate that the lev­el of cred­it­wor­thi­ness of this oblig­or, ad­judged in re­la­tion to oth­er oblig­ors in the Caribbean is good.

Cari­cris has al­so reaf­firmed the fi­nan­cial strength rat­ing of CariA, which in­di­cates that the group’s abil­i­ty to meet its on­go­ing in­sur­ance oblig­a­tions is good.

Cari­cris has al­so main­tained a sta­ble out­look on the rat­ings.

The sta­ble out­look is based on its ex­pec­ta­tion that over the next 12 to 15 months, Trinre will con­tin­ue to be prof­itable and that cap­i­tal­i­sa­tion, as well as liq­uid­i­ty ra­tios, will re­main strong, the rat­ing agency ex­plained. It added the rat­ings of Trinre are sup­port­ed by its healthy cap­i­tal­i­sa­tion and good liq­uid­i­ty, but­tressed by its low-risk re­ten­tion.

Ad­di­tion­al­ly, Cari­cris said the group con­tin­ues to op­er­ate prof­itably, with prof­it af­ter tax im­prov­ing by 12.4 per cent for the fi­nan­cial year end­ed March 2022.

Trinre has al­so main­tained a mod­er­ate­ly di­verse in­vest­ment port­fo­lio with good as­set qual­i­ty.

“Fur­ther­more, the group con­tin­ues to up­grade its in­for­ma­tion sys­tems as a proac­tive mea­sure to im­prove op­er­a­tional ef­fi­cien­cies and over­all ser­vice,” Cari­cris said.

It added Trinre has main­tained over­all good op­er­a­tional ef­fi­cien­cy, ad­e­quate risk man­age­ment mea­sures and strong cor­po­rate gov­er­nance prac­tices to sup­port op­er­a­tions.

“These rat­ing strengths are how­ev­er tem­pered by con­cen­tra­tion risks as­so­ci­at­ed with the group’s ex­po­sure to the T&T econ­o­my, which may im­pact its prof­itabil­i­ty and growth,” the rat­ing agency al­so not­ed.


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