NORTHERNLIGHT INSURANCE COMPANY INC (NLI) RECEIVES FINANCIAL STRENGTH RATING OF AA+ with STABLE OUTLOOK FROM PACIFIC CREDIT RATING (PCR)
NEVIS, ST KITTS AND NEVIS (August 30, 2022) —
Northernlight Insurance Company Inc, an international reinsurance company based in Nevis, St Kitts and Nevis, announced they had been granted a financial strength rating of AA+ with a Stable outlook from the rating agency, Pacific Credit Rating (PCR), for NLI’s planned operations in the Dominican Republic. The rating was based on Northernlight’s high profitability, strong capitalization and liquidity, and experienced management team. This is NLI’s first attempt at achieving a rating. NLI began operations in February of 2015.
The AA rating category corresponds to those entities judged to have a very high capacity to pay their obligations in the agreed terms and timeframes, and who would not likely be affected strongly by changes in the entity, industry, or economy. Their safety factors are strong while the risk is modest. The rating is supplemented by means of a “+” sign, improving the rating between AA and AAA ratings. Ratings range from AAA, highest to E, lowest.
Northernlight is a private company with operations in thirty countries and has senior executives experienced in insurance, reinsurance, bonds, and capital markets. It specializes primarily in treaty reinsurance, specialty facility reinsurance, and facultative reinsurance produced from six business areas: Yacht Reinsurance, Specialty Lines, Surety Reinsurance, French Construction Guarantees, Facultative Property, Marine, Cargo, and Aviation Risk and reinsurance of specialized underwriting Facilities.
Pacific Credit Rating is one of the leading and most respected rating agencies in Latin America, operating in 11 countries and boasting more than 500 clients from 5 continents. Currently, PCR has local offices in Bolivia, Ecuador, Perú, El Salvador, Costa Rica, Panamá, Guatemala, México, Nicaragua, Honduras, and the Dominican Republic.
