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AM Best Assigns Credit Ratings to Redbridge Insurance Company Limited
MEXICO CITY–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of B++ (Good)
and a Long-Term Issuer Credit Rating of “bbb” to Redbridge Insurance
Company Limited (RICL) (St. James, Barbados). The outlook assigned to
these Credit Ratings (ratings) is stable.
The ratings reflect RICL’s balance sheet strength, which AM Best
categorizes as very strong, as well as its adequate operating
performance, limited business profile and appropriate enterprise risk
management.
The ratings also reflect the company’s strong risk-adjusted capital and
sound business strategy, as well as its experienced management team.
Partially offsetting these positive rating factors is the small size of
the company, and the competitive environment in which it operates, which
could pressure future growth and underwriting performance.
RICL is an insurance and reinsurance company founded in December 2010,
and part of Redbridge Holding, Inc., a company specialized in the
management of insurance and reinsurance. Most members of the management
team have worked together for many years in developing and expanding
RICL, which has achieved significant growth in recent years.
RICL’s main line of business is health insurance, with a complete
network of operations that has enabled growth in the Latin American and
Caribbean markets. As of December 2018, RICL’s portfolio was comprised
83% by health, and 17% by life; it is diversified geographically among
23 countries in the Caribbean and Latin America, with a larger
concentration in Mexico (23.9%).
The continuing improvement in RICL’s risk-adjusted capitalization is
mainly a result of two USD 1 million capital contributions during 2019.
In addition, the company’s balance sheet strength is reinforced by its
reinsurance program placed with reinsurers with an excellent level of
security, nevertheless the concentration in one particular reinsurer
limits AM Best’s view on balance sheet strength. Additional capital
contributions will be key for the future balance sheet strength
assessment.
RICL’s overall underwriting results have improved from the past years,
and combined ratios have remained below the 100% threshold. In addition,
the RICL’s prudent underwriting practices have maintained the loss ratio
at stable levels. As of December 2018, RICL has gradually increased its
retention, but continued underwriting a healthy business volume with
respect to its growing capital base, which helped reduce the company’s
premium leverage ratios.
Positive rating actions could occur if the company’s risk-adjusted
capital further strengthens as a result of capital contributions, or
from significant improvement in its bottom-line results. Negative rating
actions could occur if premium growth or deteriorating underwriting
results erode the company’s capital base and reduce risk-adjusted
capitalization to a level that no longer supports the ratings.
This press release relates to Credit Ratings that have been published
on AM 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 AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view Understanding
Best’s Credit Ratings. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view Guide
for Media – Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases.
AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit www.ambest.com
for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
Contacts
Olga Rubo
Financial Analyst
+52 55 1102 2720,
ext. 134
[email protected]
Alfonso Novelo
Senior Director, Analytics
+52
55 1102 2720, ext. 107
[email protected]
Christopher Sharkey
Manager, Public Relations
+1
908 439 2200, ext. 5159
[email protected]
Jim Peavy
Director, Public Relations
+1 908
439 2200, ext. 5644
[email protected]
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Cannabis
Sannabis, Inc. (OTC: USPS) Announces First Shipment of Cannabis Essential Oil from Colombia to U.S. to Fill First Order, as the DEA Re-Classifies Marijuana from Schedule I to Schedule III
Humboldt
Humboldt Seed Company partners with Apollo Green to bring California cannabis genetics to the global marketplace
Apollo Green to distribute Humboldt Seed Company clonal cannabis genetics to Germany, Portugal and Australia
SAN FRANCISCO, April 30, 2024 /PRNewswire/ — Humboldt Seed Company (HSC), California’s leading cannabis seed producer, has announced a partnership with Canadian-based Apollo Green to make eight breeder cuts available to researchers, licensed commercial cultivators and home growers in legal markets worldwide. This first-to-market clonal genetics release is a significant milestone and will expand access to distinctive, high-quality cannabis genetics in both established and emerging global markets including Germany, Portugal and Australia.
The curated, breeder-verified selection includes pioneering triploid genetics, such as OG Triploid and Donutz Triploid alongside the legendary cult classic Blueberry Muffin. Also available are All Gas OG with a THC content of 21% and four high-THC strains in the 30-35% range: Golden Sands, Guzzlerz, Jelly Donutz and Orange Creampop. These selections represent the top .01% from HSC’s extensive California pheno-hunting program.
Exports will begin in May under Apollo Green’s Canadian federal cannabis license. All shipments have Canadian phytosanitary certification, ensuring plants have been inspected, and are clean and free of pests.
“Access for all to quality genetics has been our core focus since the beginning,” said HSC Co-founder and Chief Science Officer, Benjamin Lind. “Our science-based approach to breeding aligns perfectly with Apollo Green’s high standards and we are excited to be able to extend these hand-selected cuts to a wider audience, especially at this pivotal time where we’re seeing positive regulatory changes globally.”
Oisin Tierney, Apollo Green Director of Business Development, said, “California has long been recognized for setting industry standards, and we are proud to play a role in bringing these esteemed genetics to cultivators worldwide. The triploids are especially noteworthy in terms of the unprecedented potential for enhanced plant vigor, higher yields, shorter flowering times and superior returns for solventless extraction.”
About Humboldt Seed Company
Established in 2001, Humboldt Seed Company is a Northern California heritage brand providing quality cannabis genetics to commercial cultivators and home growers in legalized states across the U.S. and international markets including Spain, Canada, Jamaica, South Africa, Colombia, France, Portugal, Greece, the UK, Malta and Thailand. With a focus on environmental and social justice, they combine traditional breeding and modern scientific practices in their strain development program. They have served the cannabis community for over two decades.
For more information visit https://humboldtseedcompany.com/.
About Apollo Green
Licensed since 2019, Apollo Green is Canada’s leader in cannabis genetics. The company’s mission is to provide an ever-growing bank of seeds and clones to medical patients and recreational consumers. Apollo Green provides clean, trusted cannabis seeds and clones, which are backed by the foremost tissue culture technology to reduce risks, costs and time-to-market for licensed producers around the world. Apollo Green is passionate about cannabis genetics.
For more information visit https://apollogreen.com/.
Media contact
Jaana Prall
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/humboldt-seed-company-partners-with-apollo-green-to-bring-california-cannabis-genetics-to-the-global-marketplace-302131618.html
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