OLDWICK, N.J., Month XX, 2023—AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Guardian Life of The Caribbean Limited (GLOC) and Guardian General Insurance Limited (GGIL).
IFRS 17 is the new International Financial Reporting Standard (IFRS) that outlines how an insurance company should account for insurance contracts. The new standard was issued by the International Accounting Standards Board (IASB) and is effective for annual reporting periods beginning on or after the 1st January, 2023.