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Insurance Ratings Firm Issues Stable Outlook for ELAN Insurance USVI With B+ Rating

Staff Consortium | June 14, 2021

AM Best, a U.S.-based credit rating agency headquartered in Oldwick, New Jersey that focuses on the insurance industry has reaffirmed the stable outlook and reaffirmed the financial strength rating of B+ (good) and the long-term issuer credit rating of “bbb-” of Elan Insurance USVI, Inc. In a recently issued release, Elan said these credit ratings reflect its balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management (ERM). The company said the outlooks to stable reflects the improvement in its level of risk-adjusted capitalization in 2019 and 2020, as measured by Best’s Capital Adequacy Ratio (BCAR), and was driven by favorable  earnings, repayment of an outstanding note and a capital contribution from its majority shareholder.…

UVI Students Awarded $47,000 in 'Shark Tank'-Like…

Staff Consortium | June 11, 2021

Three University of the Virgin Islands' student entrepreneurs were awarded $47,000 at the annual 13D…

Bryan Submits Legislation for Use of Excise Tax Revenues…

Staff Consortium | June 10, 2021

Government House announced Thursday that Governor Albert Bryan has forwarded to the 34th Legislature…

EDA to Promote USVI as Prime Destination in Caribbean…

Staff Consortium | June 06, 2021

Prospective business investors will get an inside look into the benefits of doing business in the U.S.…

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Limetree Bay Hires New Refinery General Manager

Staff Consortium | April 20, 2021

Limetree Bay Refining announced Monday that Neil Morgan has been named refinery general manager, a job that became effective the same day it was announced.  Mr. Morgan succeeds Robert Weldzius, who L...

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