CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK, N.J. - JUNE 16, 2006 12:00 AM (EDT)
A.M. Best Co. has affirmed the public data (pd) financial strength ratings of 35 Canadian property/casualty companies, assigned one pd rating and downgraded one pd rating. These pd ratings are based solely upon public information and present the most informed view A.M. Best can offer, short of an insurer participating in the full interactive rating process.
A.M. Best's public data (pd) ratings are assigned to insurers in select markets that do not subscribe to A.M. Best's interactive rating process. A.M. Best uses the same rating scale and definitions as it does for its long-term financial strength interactive ratings but applies a pd rating modifier to ensure the user is aware of the more limited information basis for the rating.
An interactive A.M. Best rating is produced at the request of the insurer. The interactive rating process includes detailed interviews of senior management and access to non-public data and other information. Currently, the companies that participate in the interactive rating process collectively represent a significant percentage of market share in the Canadian property / casualty industry. The public data rating process is based on the statutory filings of the companies and an A.M. Best committee review of the company's financial strength along with current market conditions in which the company operates.
A.M. Best has affirmed the ratings of the following Canadian property/casualty companies:
Algoma Mutual insurance Company, B+ (Very Good)
Antigonish Farmers Mutual Fire Insurance, B+ (Very Good)
Aviva Insurance Company of Canada, A- (Excellent)
Canadian Direct Insurance Inc., B+ (Very Good)
Canadian Northern Shield Insurance Company, B (Fair)
Clare Mutual Insurance Company, B+ (Very Good)
CUMIS General Insurance Company, B (Fair)
Elite Insurance Company, B++ (Very Good)
Federation Insurance Company of Canada, B+ (Very Good)
Grain Insurance and Guarantee Company, B++ (Very Good)
La Capitale, Compagnie d'Assurance Generale, A- (Excellent)
Legacy General Insurance Company, A- (Excellent)
London and Midland General Insurance Company, A- (Excellent)
L'Unique Compagnie d' Assurances Generales, B++ (Very Good)
North Waterloo Farmers Mutual Insurance Company, B++ (Very Good)
Pacific Coast Fishermens Mutual Marine Insurance Company, B++ (Very Good)
Pembridge Insurance Company, B+ (Very Good)
Perth Insurance Company, B+ (Very Good)
Pool Insurance Company, B+ (Very Good)
Primmum Insurance Company, B (Fair)
Prince Edward Island Mutual Insurance Company, B++ (Very Good)
Promutuel Reassurance, B++ (Very Good)
RBC General Insurance Company, B+ (Very Good)
RBC Travel Insurance Company, B+ (Very Good)
Red River Valley Mutual Insurance Company, B++ (Very Good)
Saskatchewan Motor Club Insurance Company Limited, B++ (Very Good)
Saskatchewan Mutual Insurance Company, A- (Excellent)
Security National Insurance Company, B++ (Very Good)
The Dominion of Canada General Insurance Company, A- (Excellent)
The Glengarry Farmers' Mutual Fire Insurance Company, B++ (Very Good)
The Kings Mutual Insurance Company, B+ (Very Good)
The Missisquoi Insurance Company, B++ (Very Good)
The Mutual Fire Insurance Company of B.C. , B++ (Very Good)
The Portage La Prairie Mutual Insurance Company, B+ (Very Good)
Western Surety Company, B++ (Very Good)
A.M. Best has assigned a rating to the following Canadian property/casualty company:
Echelon General Insurance Company, B++ (Very Good)
A.M. Best has downgraded the rating of the following Canadian property/casualty company:
Industrial-Alliance Insurance Company, C++ (Marginal)
A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.