CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK, N.J. - JUNE 20, 2008 12:00 AM (EDT)
A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of 30 Canadian property/casualty companies; upgraded seven FSRs and ICRs; upgraded seven ICRs (with no change to the FSRs); assigned four FSRs and ICRs; and downgraded five FSRs and ICRs. (See below for a detailed list of the companies and ratings.)
These 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 uses the same rating scale and definitions as it does for its long-term financial strength interactive ratings, but applies a pd modifier to ensure the user is aware of the more limited information basis for the rating.
A.M. Best has affirmed the FSRs and ICRs of the following Canadian property/casualty companies:
Company Name FSR ICR
Algoma Mutual Insurance Company B+ (Good) "bbb-"
Allstate Insurance Company of Canada A- (Excellent) "a-"
Antigonish Farmers Mutual
Insurance Company B+ (Good) "bbb-"
Aviva Insurance Company of Canada A- (Excellent) "a-"
BCAA Insurance Corporation B+ (Good) "bbb-"
Canadian Direct Insurance Inc. B+ (Good) "bbb-"
La Capitale, Compagnie
D'Assurance Generale A- (Excellent) "a-"
Certas Direct
Insurance Company B++ (Good) "bbb"
Clare Mutual Insurance Company B+ (Good) "bbb-"
The Dominion of Canada General
Insurance Company A- (Excellent) "a-"
Economical Mutual
Insurance Company B++ (Good) "bbb"
Federation Insurance
Company of Canada B+ (Good) "bbb-"
Fenchurch General
Insurance Company B++ (Good) "bbb"
First North American
Insurance Company B++ (Good) "bbb"
Glengarry Mutual
Insurance Company B++ (Good) "bbb"
The Kings Mutual
Insurance Company B+ (Good) "bbb-"
Legacy General
Insurance Company A- (Excellent) "a-"
London and Midland General
Insurance Company A- (Excellent) "a-"
The Missisquoi Insurance Company B++ (Good) "bbb"
The Mutual Fire Insurance
Company of B.C. B++ (Good) "bbb+"
North Waterloo Farmers Mutual
Insurance Company B++ (Good) "bbb"
Pacific Coast Fishermens Mutual Marine
Insurance Company B++ (Good) "bbb"
The Personal Insurance Company B+ (Good) "bbb-"
Perth Insurance Company B+ (Good) "bbb-"
Pool Insurance Company B+ (Good) "bbb-"
The Portage La Prairie Mutual
Insurance Company B++ (Good) "bbb"
Promutuel Reassurance B++ (Good) "bbb"
Saskatchewan Mutual
Insurance Company A- (Excellent) "a-"
Traders General Insurance Company B+ (Good) "bbb-"
Waterloo Insurance Company B++ (Good) "bbb"
A.M. Best has upgraded the FSRs and ICRs of the following Canadian property/casualty companies:
Company Name FSR ICR
CUMIS General
Insurance Company B+ (Good) "bbb-"
Grain Insurance and
Guarantee Company A- (Excellent) "a-"
Pembridge Insurance Company A- (Excellent) "a-"
RBC Insurance Company
of Canada A- (Excellent) "a-"
RBC General Insurance Company B++ (Good) "bbb"
Red River Valley Mutual
Insurance Company A- (Excellent) "a-"
L'Unique Compagnie
D'Assurances Generales A- (Excellent) "a-"
A.M. Best has affirmed the FSRs and upgraded ICRs of the following Canadian property/casualty companies:
Company Name FSR ICR
Farmers' Mutual Insurance
Company (Lindsay) B++ (Good) "bbb+"
Gore Mutual Insurance Company B++ (Good) "bbb+"
Green Shield Canada B++ (Good) "bbb+"
Industrial-Alliance General
Insurance Company C++ (Marginal) "b+"
Pictou County Farmers Mutual Fire
Insurance Company B++ (Good) "bbb+"
Prince Edward Island Mutual
Insurance Company B++ (Good) "bbb+"
Western Surety Company B++ (Good) "bbb+"
A.M. Best has assigned FSRs and ICRs to the following Canadian property/casualty companies:
Company Name FSR ICR
Alpha Assurance Company A- (Excellent) "a-"
Desjardins Assurances
Generales Inc B (Fair) "bb+"
Personal General
Insurance Inc. C+ (Marginal) "b-"
TD Home and Auto
Insurance Company B+ (Good) "bbb-"
A.M. Best has downgraded the FSRs and ICRs of the following Canadian property/casualty companies:
Company Name FSR ICR
Alberta Motor Association
Insurance Company B++ (Good) "bbb"
Elite Insurance Company B (Fair) "bb"
Primmum Insurance Company B (Fair) "bb"
Security National Insurance Company B+ (Good) "bbb-"
TD General Insurance Company B (Fair) "bb+"
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.