AM Best, one of the world’s leading rating agencies for insurance companies, has given Massy United Insurance Ltd an A- rating, which is defined as excellent.
In a release on Friday, Massy United CEO said the rating meant a lot to the company.
“The covid19 pandemic has caused so much adversity throughout the world, but not only did the staff of Massy United tackle this adversity, they found a way to excel and grow in the face of it. With all the global challenges and economic uncertainty, we kept our staff employed, we kept them safe, and we protected our customers. We’ve paid many legitimate claims ranging from Hurricane Elsa to volcanic eruption; all of which helped our customers get back on their feet,” he said.
He added that the rating by AM Best showed that Massy United had the financial strength to continue to support their staff and customers. Graham thanked Massy’s clients and customers for their support.
The rating followed a strong financial result in 2020, when it extended its asset base to US$313 million and achieved a growth of 18 per cent compared to the 2019 financial year.