Best Lists ‘Public Information” Ratings on 52 Canadian P/C Companies

A.M. Best Co. has released a list of ratings on a number of Canadian P/C insurers, based on publicly available financial information. “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,” said the bulletin.

Best indicated that in compiling the ratings it “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.”

Best affirmed the financial strength ratings (FSR’s) and issuer credit ratings (ICR’s) to the following companies, as indicated:
— Alberta Motor Association Insurance A- (Excellent) “a-”
— Algoma Mutual insurance Company B+ (Good) “bbb-”
— Allstate Insurance Company of Canada A- (Excellent) “a-”
— Antigonish Farmers Mutual Fire Insurance B+ (Good) “bbb-”
— Aviva Insurance Company of Canada A- (Excellent) “a-”
— Canadian Direct Insurance Inc. B+ (Good) “bbb-”
— Canadian Northern Shield Insurance Company B (Fair) “bb”
— Clare Mutual Insurance Company B+ (Good) “bbb-”
— CUMIS General Insurance Company B (Fair) “bb”
— Echelon General Insurance Company B++ (Good) “bbb”
— Economical Mutual Insurance Company B++ (Good) “bbb”
— Farmers’ Mutual Insurance Company (Lindsay) B++ (Good) “bbb”
— Federation Insurance Company of Canada B+ (Good) “bbb-”
— Fenchurch General Insurance Company B++ (Good) “bbb”
— Gore Mutual Insurance Company B++ (Good) “bbb”
— Grain Insurance and Guarantee Company B++ (Good) “bbb”
— Industrial-Alliance General Insurance Company C++ (Marginal) “b”
— La Capitale, Compagnie d’Assurance Generale A- (Excellent) “a-”
— Legacy General Insurance Company A- (Excellent) “a-”
— London and Midland General Insurance Co. A- (Excellent) “a-”
— L’Unique Compagnie d’ Assurances Generales B++ (Good) “bbb”
— North Waterloo Farmers Mutual Insurance Co. B++ (Good) “bbb”
— Pacific Coast Fishermens Mutual Marine B++ (Good) “bbb”
— The Personal Insurance Company B+ (Good) “bbb-”
— Perth Insurance Company B+ (Good) “bbb-”
— Pictou County Farmers Mutual Fire Insurance B++ (Good) “bbb”
— Company Pool Insurance Company B+ (Good) “bbb-”
— Prince Edward Island Mutual Insurance Co B++ (Good) “bbb”
— Promutuel Reassurance B++ (Good) “bbb”
— RBC General Insurance Company B+ (Good) “bbb-”
— Red River Valley Mutual Insurance Company B++ (Good) “bbb”
— Saskatchewan Motor Club Insurance Company B++ (Good) “bbb”
— Limited Saskatchewan Mutual Insurance Co. A- (Excellent) “a-”
— Security National Insurance Company B++ (Good) “bbb”
— TD General Insurance Company B+ (Good) “bbb-”
— The Dominion of Canada General Insurance A- (Excellent) “a-”
— The Glengarry Mutual Insurance Company B++ (Good) “bbb”
— The Kings Mutual Insurance Company B+ (Good) “bbb-”
— The Missisquoi Insurance Company B++ (Good) “bbb”
— The Mutual Fire Insurance Company of B.C. B++ (Good) “bbb+”
— Traders General Insurance Company B+ (Good) “bbb-”
— Waterloo Insurance Company B++ (Good) “bbb”
— Western Surety Company B++ (Good) “bbb”

Best assigned FSRs and ICRs to the following Canadian companies:
— BCAA Insurance Corporation B+ (Good) “bbb-”
— First North American Insurance Company B++ (Good) “bbb”
— Green Shield Canada B++ (Good) “bbb”

Best upgraded the FSRs and assigned ICRs to the following Canadian companies:
— Certas Direct Insurance Company B++ (Good) “bbb”
— Pembridge Insurance Company B++ (Good) “bbb+”
— Primmum Insurance Company B+ (Good) “bbb-”
— RBC Travel Insurance Company B++ (Good) “bbb”
— The Portage La Prairie Mutual Insurance Company B++ (Good) “bbb”

Best downgraded the FSR and assigned an ICR to Elite Insurance Company of B+ (Good) “bbb-“