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CG United’s improved credit ratings show positive integration

Yan Leclerc, CG Group CFO (Photograph supplied)

The Coralisle Group is applauding the high marks its new subsidiary CG United Insurance Ltd received this week from credit ratings agency AM Best.

The CG Group acquired 100 per cent interest in Massy United Insurance Ltd of Barbados in 2022, changing the name to CG United Insurance Ltd.

“We are pleased with AM Best’s assessment of our performance, particularly as it relates to CG United and the significant progress we have made integrating its operations into the group,” CG Group CFO Yan Leclerc said.

“Through sound planning, financial prudence, teamwork and operational consistency across multiple jurisdictions, we are well positioned to be the insurer of choice across the Caribbean region.”

Three days ago, AM Best upgraded CG United Insurance Ltd’s financial strength rating to ‘A’ (Excellent). They also upgraded its long-term issuer credit rating to ‘a’ (Excellent) from ‘a-’ and revised the outlook to ‘stable’ from ‘positive’.

The acquisition added 14 new markets where CG United operates. According to the CG Group, it also made CG the property and casualty insurer with the broadest footprint across the Caribbean region.

For the full Coralisle Group press release, see Related Media

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Published February 22, 2024 at 5:00 pm (Updated February 22, 2024 at 8:28 pm)

CG United’s improved credit ratings show positive integration

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