👉 Don't forget to join the Mentoring Family here: A question that’s quite commonly asked by a lot of my clients is: “Sanjay, HOW are Insurance Companies rated?” 🤔
To know HOW Insurance Companies are rated, it’s about understanding what’s the MEANING of RATING. Rating is based on a certain number of factors:
✅ Number one is: Solvency
✅ Number two is: Do they have the right management structure?
✅ Number three is: Do they have a PROPER financial plan and a SUCCESSION plan for their TOP management?
And there are quite a few numbers of trading days which AFFECTS the rating of Insurance Companies. But just like any other company in the stock market or any other company in the world, there are agencies that rate Insurance Companies to know:
Are they good? Are they a bad?
Majority of Insurance Companies have a decent rating because they don’t carry the risk, they pass on the risk to another company which is what we call REINSURANCE. So that allows Insurance Companies to MANAGE the RISK to a certain extent.
And that’s the BEAUTY of insurance, that the ratings are done by third parties for the WHOLE industry works together to PROTECT each other.
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🎖 Who is Dr Sanjay Tolani? 🎖
Dr. Sanjay Tolani, became the “youngest member” at the age of 19 and the “youngest life member” at the Age of 28 to the Million Dollar Round Table (MDRT). He also has 13 Top of the Table Qualifications (TOT), which is considered the pinnacle of the financial services profession. To top things off, he is also the youngest Managing Director of an insurance brokerage in the Middle East.
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