# AM Best Affirms B++ Ratings for Guyana's Hand-in-Hand Group, Flags Governance Concerns

> AM Best affirmed B++ financial strength ratings for Guyana's Hand-in-Hand Group, keeping negative outlooks on governance and delayed audited reporting.

- Published: 2026-10-23T18:19:42+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-23/am-best-hand-in-hand-ratings-affirmed
- Source: [Business Wire](https://www.businesswire.com/news/home/20261023497461/en/)

## Key takeaways

- AM Best affirmed the B++ (Good) financial strength rating of The Hand-in-Hand Mutual Fire Insurance Company Limited and the B++ (Good) rating of Hand-in-Hand Mutual Life Assurance Company Limited.
- The Long-Term Issuer Credit Rating outlook is negative for HIHF at bbb+ and for HIHL at bbb.
- AM Best cited the group's ERM framework, corporate governance practices and past delays in reporting audited financial information.

[AM Best](https://akta.pro/company-profiles/0004isa/am-best) affirmed the B++ (Good) financial strength rating and the bbb+ (Good) Long-Term Issuer Credit Rating of The Hand-in-Hand Mutual Fire Insurance Company Limited, with a stable outlook on the financial strength rating and a negative outlook on the issuer credit rating. The agency also affirmed the B++ (Good) financial strength rating and bbb (Good) Long-Term Issuer Credit Rating of Hand-in-Hand Mutual Life Assurance Company Limited, both with negative outlooks, [Business Wire](https://www.businesswire.com/news/home/20261023497461/en/) reported on October 23, 2026.

## Why AM Best Kept Negative Outlooks on Hand-in-Hand

The negative outlooks on HIHL and on HIHF's Long-Term Issuer Credit Rating reflect AM Best's concern over the group's enterprise risk management framework and corporate governance practices, following the recent adoption of enhanced accounting standards, and its exposure to potential emerging risks in Guyana's dynamic economic environment. AM Best said Hand-in-Hand Group has experienced delays over the past years in reporting audited financial information, which, if continued, could add uncertainty about the group's overall financial position and performance.

HIHF, established in 1865, is Guyana's oldest insurance company and the second-largest carrier in the country's insurance industry, writing property/casualty lines mainly in fire and motor coverages, along with accidents and liability. HIHL was incorporated in 1966 and, as a mutual company, is owned by policyholders with a small amount of preferred shares issued to HIHF; it underwrites predominantly group health and life insurance, with a significant portfolio of ordinary life and annuities. AM Best assesses HIHF's balance sheet strength as very strong and HIHL's as strong, with adequate operating performance, neutral business profiles and appropriate ERM at both companies.

## AM Best's Global Insurance Ratings Work

AM Best is a privately held credit rating agency and data analytics provider serving the insurance industry, operating in over 100 countries, according to [akta.pro company records](https://akta.pro/company-data). The company was founded in 1899 and is headquartered in Oldwick, USA, with a headcount in the 501-1000 range. Its records list a revenue estimate of $100 million-$250 million and a valuation estimate of $500 million-$1 billion.

## Earlier AM Best Rating Actions

AM Best revised the outlooks to stable from negative and affirmed the A financial strength rating and a Long-Term Issuer Credit Ratings for Coverys Companies, FinancialContent Business Page reported on October 23, 2026. On October 22, 2026, the same outlet reported that AM Best revised the Long-Term Issuer Credit Rating outlook to stable from negative for Ohio Mutual Insurance Group members, affirming A (Excellent) financial strength and a+ (Excellent) Long-Term ICRs. Also on October 22, 2026, it reported that AM Best affirmed Stellar Insurance's Financial Strength Rating of A and Long-Term Issuer Credit Rating of a+, with a stable outlook.

## What Could Change Hand-in-Hand's Ratings

AM Best said negative rating actions for HIHF and HIHL could occur if their capital bases decline significantly, if operating performance deteriorates from sustained underwriting or net losses, or if its view of the group's ERM and corporate governance practices deteriorates further. Positive rating actions for HIHF could take place if it maintains risk-adjusted capitalization at the strongest level while building its capital base consistently, and for HIHL if its balance sheet strength assessment improves on enhanced risk-adjusted capitalization.

## Companies in this story

- [AM Best company profile](https://akta.pro/company-profiles/0004isa/am-best) · website: https://www.ambest.com

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