Credit rating upgrade of P&C insurance business
AM Best upgrades Aldagi P&C insurance business credit rating to investment grade bbb- (Stable).
- Aldagi credit rating bbb- (Stable) (prior bb+ (Positive))
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Georgia Capital PLC (the "Company" or "GCAP") announces today that AM Best, a leading international credit rating agency, has upgraded the credit rating of Aldagi, the holding company of GCAP's P&C insurance business, to the investment grade level of "bbb- (Stable)" from "bb+ (Positive)", marking the first time a Georgian insurance company has been assigned an international investment-grade credit rating.
The rating upgrade reflects AM Best's view that Aldagi is well positioned to maintain resilient balance sheet strength and sustain its strongest level of risk-adjusted capitalisation, underpinned by prudent capital and underwriting management. The detailed rating announcement is available on AM Best's website.
Irakli Gilauri, Georgia Capital's Chairman and CEO commented: "We are proud of Aldagi's milestone achievement, which highlights the quality of the business. Achieving investment-grade status is a significant step for both Aldagi and the broader Georgian insurance sector."
| S&P Global | 'BB-'/FC & 'BB-'/LC | ||
| Chairman and Chief Executive | Chief Financial Officer | Adviser to the Chairman & CEO | Head of Investor Relations |
| ir@gcap.ge | +995 322 005 000 | +44 203 178 4034 | + 995 322 005 045 |
| ir@gcap.ge | ir@gcap.ge | ir@gcap.ge |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.