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A.M. Best takes rating actions on 51 Canadian insurers


June 23, 2009   by Canadian Underwriter


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The financial strength ratings (FSR) and issuer credit ratings (ICR) of 33 Canadian property/casualty companies have been affirmed by A.M. Best Co.
Additionally, one company had its FSR and ICR confirmed, four had their ICRs upgraded, four had their FSRs and ICRs assigned and nine had their FSRs and ICRs downgraded by A.M. Best Co.
The ratings are based solely upon public information. They present the most informed view A.M. Best can offer, short of an insurer participating in the full interactive rating process, the ratings agency said in a press release.
The following five private insurance companies, each of which is ranked among the country’s Top 20 insurers (based on market share), appeared on the A.M Best ratings list.
They are:
• Aviva Insurance Company of Canada’s FSR of  A- (Excellent) was affirmed.
• TD General Insurance Company’s FSR of B (Fair) was affirmed.
• Economical Mutual Insurance Company’s FSR of B++ (Good) has been affirmed.
• The Dominion of Canada General Insurance Company’s FSR has been downgraded to a B++ (Good).   
• Allstate Insurance Company of Canada’s FSR of A- (Excellent) has been affirmed.


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