A.M. Best Takes Various Rating Actions on Canadian P/C Insurers

A.M. Best Co. has downgraded the ratings of four Canadian insurers and upgraded the ratings of nine.

The downgraded ratings affected the following Canadian property/casualty companies:

Personal General Insurance Inc B+
Primmum Insurance Company B
TD General Insurance Company B
Traders General Insurance Company B

The upgraded ratings affected the following Canadian property/casualty companies:

Algoma Mutual Insurance Company B+
Allstate Insurance Company of Canada B++
Clare Mutual Insurance Company B+
Industrial-Alliance General Insurance Company B
Pembridge Insurance Company B+
Promutuel Reassurance B++
Saskatchewan Motor Club Insurance Company Limited B++
Saskatchewan Mutual Insurance Company A-
Southeastern Mutual Insurance Company B++

The ratings are based on public information and present an A.M. Best derived view that does not have full interactive rating process involvement of the said insurers.
A.M. Best’s public data (pd) ratings are assigned to insurers in select markets that do not subscribe to A.M. Best’s 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 rating modifier to ensure the user is aware of the more limited information basis for the rating.