NAGICO Insurances has received a major boost to its financial standing after global credit rating agency A.M. Best upgraded the Group’s Financial Strength Rating from BBB+ to A- (Excellent).

The upgrade reflects A.M. Best’s assessment of NAGICO’s strengthened balance sheet, consistently improving operating performance, disciplined risk management, and the effective execution of its long-term strategy across several Caribbean markets.

For policyholders, partners, and regulators, the A- rating provides strong independent assurance of the Group’s ability to meet its obligations—an especially important signal in a region vulnerable to natural disasters and economic volatility.

“I am extremely proud of this recognition for our group,” said Kyria Ali, Chief Executive Officer of NAGICO Insurances. “An A.M. Best rating speaks directly to an insurer’s capacity to stand behind its promises. This upgrade is an independent endorsement of our financial strength and disciplined management, and it validates the confidence our customers across the Caribbean and France have placed in us to be there when they need us most.”

Kyria Ali, Chief Executive Officer of NAGICO Insurances (photo by LinkedIn)

A.M. Best ratings evaluate insurers on balance sheet strength, operating performance, business profile, and enterprise risk management. An A- (Excellent) rating indicates strong capitalization, resilient financial performance, prudent underwriting, and a sustainable long-term business strategy—placing NAGICO among top-tier insurance groups in the region.

Operating in the Caribbean, NAGICO has faced unique challenges, from hurricanes to volcanic eruptions. Over the years, the Group has paid billions of US dollars in claims following natural disasters and has made targeted investments in reinsurance protection, governance, and talent to reinforce its resilience.

“Our region presents unique challenges, from climate risk to economic shocks,” said Imran McSood Amjad, Executive Chairman of NAGICO Insurances. “This upgrade reflects the deliberate steps taken by the Board and Management to strengthen the Group’s balance sheet, governance, and risk management. It is a strong validation of our long-term vision and disciplined approach.”

Imran McSood Amjad, Executive Chairman of NAGICO Insurance (photo by Kaori Media)

The company said the upgraded rating is the result of collective efforts by employees, partners, and stakeholders across its regional footprint, underscoring its commitment to sustainable growth, strong governance, and long-term value creation.
Looking ahead, NAGICO Insurances says it will continue investing in technology to enhance customer experience, introduce innovative products, and support regional development.

Founded in 1982, NAGICO Insurances provides property and casualty, life and health insurance products, and risk solutions across 32 locations throughout the Caribbean and Metropolitan France.