Maroc - NEWSDAY.CO.TT - A la Une - 05/Mar 20:10

CariCRIS reaffirms Trinre credit rating

REGIONAL credit rating agency CariCRIS has reaffirmed the credit rating of Trinre Insurance Company, recognising its financial strength and stability. Trinre and its subsidiary have maintained a solid rating of CariA for both foreign and local currency at the regional level and ttA on the TT national scale, with a stable outlook. This means Trinre is considered a reliable and well-capitalised insurer, capable of meeting its financial commitments. The rating reflects the company’s steady performance, effective risk management and strong reinsurance partnerships. CariCRIS also outlined factors that could lead to future upgrades or downgrades based on Trinre’s financial performance and market conditions. "An upgrade in Trinre's rating could occur if the company achieves a profit after tax increase of more than ten per cent for two consecutive financial periods, grows its tangible net worth by over 17.5 per cent for three consecutive financial periods, expands further into regional markets or benefits from an improved sovereign rating for TT," CariCRIS said. On the other hand, a downgrade could result if Trinre’s regulatory capital ratio falls to 150 per cent or lower for at least six months, if insurance revenue declines by ten per cent or more for two consecutive financial periods, or if there is a deterioration in the quality of its investment assets. A downgrade of the country’s sovereign rating or the loss of key reinsurance partnerships without viable replacements could also negatively impact Trinre’s rating. Trinre, a locally owned general insurance provider, has served the market for over 50 years. It has a diversified portfolio across personal and commercial insurance lines and remains a key player in the domestic insurance industry. The post CariCRIS reaffirms Trinre credit rating appeared first on Trinidad and Tobago Newsday.