Trisura earns financial strength rating of B++

A.M. Best Co. has assigned a financial strength rating of B++ (Good) and issuer credit rating (ICR) of “bbb” to Trisura Guarantee Insurance Company (Trisura).
The outlook assigned to all ratings is stable.
These reflect the company’s favourable risk-adjusted capitalization, improved operating performance and experienced management team, A.M. Best said in a release.
The company achieved an underwriting profit of $2.5 million with a combined ratio of 91.5% in 2009, with these favourable results continuing through year-to-date 2010, A.M. Best reports.
“Partially offsetting these positive factors are the disproportionately
higher expenses associated with the new book of business and increased
competition in Canada.”