COVID-19 pandemic and travel insurance policies in the Philippines Learn more

Starr's high credit ratings affirmed by AM Best

Starr entered the insurance industry in the Philippines in 2013. It is one of the multi-national insurance companies in the country that possesses great financial strengths and has the capability to cover large complex risks.

New York, New York - where Starr Global Headquarters is located

Starr's strong credit ratings

Starr International Company, Inc. (SICO) Switzerland, a private investment holding company has been rated with a Financial Strength Rating of A (Excellent) and the Long Term Issuer Credit Ratings (Long-Term ICR) of “a” of its insurance subsidiaries.

 

Starr rated 'A' by AM Best

AM Best

Starr's excellent credit ratings was affirmed by AM Best, a credit rating agency that focuses solely on the insurance industry.

The Credit Rating actions apply to the members of the Starr International Group (SIG) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda), including Starr International Insurance Philippines Branch. The outlook of these ratings is stable.

AM Best’s statement highlights that “the ratings of SIG and SIRL and their members reflect their balance sheet strength, which AM Best categorizes as strongest”.

 

What does this mean for consumers?

AM Best ratings provides policyholders a way to verify the financial strength of insurance companies. It offers deep financial analysis to help people judge an insurer's creditworthiness. The ratings help a consumer make an educated decision in purchasing insurance products. 

Also, according to Good Financial Cents, receiving an A for the company shows how financially strong they are, how capable a company is of guaranteeing your policy and keeping it secure. Having high credit ratings mean the insurance company is reputable and has the means to pay its financial obligations.

 

Who is Starr?

Starr is one of the world's leading insurance and investment organizations, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world. Today, Starr is one of the world’s fastest growing insurance organizations, capable of writing in 128 countries in 6 continents.

 

Starr's Insurance Operations in the Philippines 

Starr Insurance Companies - Philippines office in Enterprise Center, Makati Central Business District, Philippines

In the Philippines, Starr was licensed in 2013 and was the first insurance company to meet the Insurance Commission's paid-up capital requirement of Php 1 Billion. Over the past years, it has been one of the fastest growing non-life insurance companies in the country. It has grown to serve the insurance requirements of individuals for personal accident & travel insurance, as well as large corporations with complex risks.  Its leadership team headed by Mr. Maurice R. Greenberg (Chairman and CEO) remains steadfast in its commitment to serve the Philippine market.

Ayala Avenue and Paseo de Roxas Makati City Philippines

 

Starr Companies and travel insurance

If you talk about travel insurance, Starr is known globally to be one of the leaders in travel assistance & insurance products,

In the Philippines, Starr is one of the few insurers that offer travel insurance with COVID-19 medical cover for outbound international travelers from the country.  This is a requirement for outbound travelers from the Philippines holding tourist visas.

Are you interested to know how much international travel insurance with COVID-19 medical cover costs? Send a message to request a quote.