Printer Friendly
The Free Library
22,719,120 articles and books

A.M. Best Takes Various PD Rating Actions on 37 Canadian Property/Casualty Insurers.



OLDWICK, N.J. -- A.M. Best Co. has affirmed af·firm  
v. af·firmed, af·firm·ing, af·firms

v.tr.
1. To declare positively or firmly; maintain to be true.

2. To support or uphold the validity of; confirm.

v.intr.
 the public data (pd) financial strength ratings of 35 Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma.  property/casualty companies, assigned as·sign  
tr.v. as·signed, as·sign·ing, as·signs
1. To set apart for a particular purpose; designate: assigned a day for the inspection.

2.
 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 An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual.

An insurer is frequently an insurance company and is also known as an underwriter.
 participating in the full interactive rating process.

A.M. Best's pd ratings are assigned to insurers in select markets that do not subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day"
subscribe, take

buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company";
 A.M. Best's interactive rating process. A.M. Best uses the same rating scale and definitions as it does for its long-term Long-term

Three or more years. In the context of accounting, more than 1 year.


long-term

1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term.
 financial strength interactive ratings but applies a pd rating modifier (programming) modifier - An operation that alters the state of an object. Modifiers often have names that begin with "set" and corresponding selector functions whose names begin with "get".  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 pd 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 pd ratings of the following Canadian
property/casualty companies:

Company                                             Rating

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 pd rating to the following Canadian
property/casualty company:


Company                                             Rating

Echelon General Insurance Company                   B++ (Very Good)

    A.M. Best has downgraded the pd rating of the following Canadian
property/casualty company:

Company                                             Rating

Industrial-Alliance General Insurance Company       C++ (Marginal)



A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 16, 2006
Words:575
Previous Article:Ethanol Prices Scream beyond $5.00 Gal, Setting Stage for High Impact IPO's, According To OPIS.
Next Article:CipherTrust Confirms 21-Percent Jump in New Zombie Machines and 20-Percent Overall Increase in Spam; TrustedSource Reputation Engine Finds that 64...
Topics:



Related Articles
Best's rating changes. (Ratings).
Best's Rating Changes. (Ratings).
Best's Rating Changes. (Ratings).
Best's rating changes.
Best's rating changes.
Best's rating changes.
Best's rating changes.
Best's rating changes.
Best's rating changes.
Best's rating changes.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters