Insurance credit agency AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb+” (Good) of Sagicor Life Jamaica Limited (SLJ), headquartered in Kingston, Jamaica.

The agency’s outlook on the credit ratings (ratings) is stable.

In a release, AM Best explained that the ratings are an indication of the insurance company’s balance sheet strength, strong operating performance, neutral business profile, and appropriate enterprise risk management.

“SLJ has a very strong market position in Jamaica, and a consistent history of revenue and earnings, which has led to balance sheet growth. Offsetting rating factors include an elevated country risk level in Jamaica,” the rating agency elaborated.