Capital Insurance Group pleased with rating outcome

Capital Insurance Group is pleased to advise that our core operating subsidiaries in Papua New Guinea have received a B- Rating from international specialist rating agency AM Best.
Chair of Capital Insurance Group, Mr. Michael Koisen notes:
“As the only PNG owned multinational insurer it is important for us to achieve an internationally recognised rating. We are pleased that our core PNG entities have received the following from AM Best:
Capital General Insurance Company Ltd.: Financial Strength Rating B- (stable outlook); Issuer Credit Rating bb- (stable outlook)
Capital Life Insurance Company Ltd.: Financial Strength Rating B- (positive outlook); Issuer Credit Rating bb- (positive outlook)
These ratings recognise the hard work that we have put in over several years to build a Papua New Guinea owned insurance group that is a strong and vibrant competitor to the Foreign owned Multinationals.
Capital Life and Capital General are the only locally owned Internationally rated insurers. We see this as an important step in the evolution of PNG as a regional Financial Services Hub, and vindicates the investment we have made in our Brand and our People.
As we work to build our local industry, we look forward to other Nationally Owned Insurers also accepting the challenge of becoming Internationally Rated in the future.”