Insurance Management (Bah) Ltd celebrates 40th Anniversary

In News Releases by Summit Insurance

In 2017, our exclusive agents Insurance Management (Bah) Ltd. (IMB) celebrated 40 years in business. The agency, which was founded by Cedric Saunders and Kenneth Russell, began as a small two man operation and has now grown to 5 branches with over 100 employees. In addition to being the founder of IMB, Cedric Saunders was also the founder of Summit …

A M Best affirms Summit’s A- (Excellent) Rating

In News Releases by Summit Insurance

A.M. Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “A-” of Summit Insurance Company Limited (Summit) (Nassau, Bahamas). The outlook for these Credit Ratings (ratings) is stable. The ratings reflect Summit’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, limited …

Summit and F.M. Global Celebrate 10 Years of Partnership

In News Releases by Summit Insurance

In 2007 Summit officially agreed to join the F. M. Global Partner Network as that insurers partner for it’s business in The Bahamas. This involves being the insurer of record for F M Global clients in The Bahamas and providing them with underwriting and claims service. Over the years the partnership has worked very well for both sides, with each …

Summit’s Matthew Loss Peaks at $37m

In News Releases by Summit Insurance

By Neil Hartnell, Tribune Business Editor A Bahamian insurer yesterday revealed it had incurred $37 million in gross losses from Hurricane Matthew, and warned that “some small increase” in local insurance premiums may result in 2017. Tim Ingraham, Summit Insurance Company’s president, said some reinsurance industry players – particularly those forced into making Hurricane Matthew-related payouts – were “pushing rates northwards”. Given …

A.M. Best Assigns Credit Ratings to Summit Insurance Company Limited

In News Releases by Summit Insurance

FOR IMMEDIATE RELEASE OLDWICK – OCTOBER 25, 2016 A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Summit Insurance Company Limited (Summit) (Nassau, Bahamas). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Summit’s supportive balance sheet strength, historically favorable operating results …