CIC Receives Positive Ratings from A.M. Best Co.

Good news greets CIC in August as A.M. Best Co. gave it a slightly higher Financial Stability Rating (FSR) and Issuer Credit Rating (ICR) before the end of July. Accordingly, CIC Guam’s FSR went up to B++ from the previous B+ rating that it received from A.M. Best Co. last year. Meanwhile, its ICR has also improved to bbb from its previous rate of bbb-. “The ratings for CIC Guam recognize the significant improvement in the company’s Best Capital Adequacy Ratio (BCAR) stemming from the capital infusion from its immediate holding entity, Tan Holdings Corporation (THC). To support the business growth of CIC Guam, Tan Holdings infused fresh capital in June 2010, which doubled the company’s paid-up capital and subsequently significantly improved the company’s risk-based capitalization. ” –A.M. Best Co. Simultaneously, the ratings company also graded CIC Saipan with a B+ FSR and an ICR of bbb-. These ratings attest to the stability of both CIC outlets in Guam and Saipan. Citing the results of its own report, the world’s oldest and most authoritative insurance rating group also acknowledged that the outcome of the ratings are in conjunction with the “prudent investment strategy and efforts by management to enhance both companies’ enterprise risk management.”