OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to TDC Insurance Company Limited (TDCIC) (Basseterre, St. Kitts and Nevis). The outlook assigned to each rating is stable.

The ratings reflect TDCIC’s supportive balance sheet strength, historically favorable operating results and leading market presence in the Federation of St. Kitts and Nevis, partially offset by the company’s geographic and underwriting risk concentration in the Eastern Caribbean, and the challenges that weakened economic conditions have created for TDCIC’s overall operating performance and growth opportunities. Although St. Kitts and Nevis are vulnerable to price changes in key commodities and highly dependent upon tourism, economic conditions in these territories have shown modest improvement in recent years.

TDCIC, formerly the St. Kitts-Nevis Insurance Company, is an insurance operating company that is wholly owned by St. Kitts-Nevis-Anguilla Trading and Development Company Limited (TDC). TDC is a publicly traded company on the Eastern Caribbean Exchange, involved in general trading and services, finance and insurance, tourism, manufacturing, real estate development and other industries. The TDCIC name change was part of an effort to make the company easily identifiable with its parent and enhance synergies arising from cross-selling opportunities and economies of scale among subsidiaries.

TDCIC is a leading motor and property writer in the St. Kitts and Nevis markets. The company enjoys excellent brand recognition throughout its regional operating territories. Operating performance has historically been profitable due to prudent underwriting, low frequency of hurricanes in recent years and adequate reinsurance protection backed by quality reinsurance partners. The company has historically posted underwriting profits, attributable to its prudent underwriting and conservative risk management strategies. Risk-adjusted capitalization is also sufficiently strong to support underwriting, investment and business risks, as well as strategic objectives.

A.M. Best believes the assigned ratings and outlooks are appropriately positioned at current levels; however, the ratings could be impacted by a weakening in underwriting performance or overall profitability to a level that trails similarly rated peers, or from significant weakening in risk-adjusted capitalization.

This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.

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