Canadian Underwriter

Royal & SunAlliance Canada rating affirmed: A.M. Best

April 4, 2004   by Canadian Underwriter

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Royal & SunAlliance Insurance Pool of Canada has seen its “A-” (excellent) rating affirmed by A.M. Best, with the outlook negative.
The rating reflects improvement in underwriting results in 2003, as well as the strong capitalization and market position the pool enjoys as a result of its core position with parent company Royal & SunAlliance Insurance Group.
Offsetting this is the challenge the pool faces as a result of its exposure to Ontario auto. “High claim costs and lack of significant regulatory reform will continue to adversely impact underwriting results,” A.M. Best notes.
The pool includes Royal & SunAlliance Insurance Co. of Canada, Western Assurance Co. and Quebec Assurance Co.

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