RSA ratings upgraded and affirmed

A.M. Best Co. has affirmed the financial strength ratings (FSR) of A- (Excellent) of Royal & SunAlliance Insurance Company of Canada (RSA Canada) and Quebec Assurance Company.
A.M. Best also has upgraded the FSR to A- (Excellent) from B++ (Good) of Western Assurance Company. Together these members are known as RSA Group of Canada, an AM Best release says.
In addition, A.M. Best has affirmed the FSR of B+ (Good) of Ascentus Insurance Ltd. (Ascentus) (Toronto, Canada).
Additionally, A.M Best has upgraded the FSR to B (Fair) from C+ (Marginal) of Unifund Assurance Company (Unifund) (St. John’s, Canada).
Canadian Northern Shield Insurance Company (CNS) (Vancouver, Canada) formerly had a Best’s public data (pd) rating when under a prior owner; however, now it has an interactive FSR of B (Fair).
The outlook for all ratings is stable, according to A.M. Best.
“The rating actions of RSA Canada, Quebec Assurance and Western Assurance reflect A.M. Best’s viewpoint that the group maintains strong risk-adjusted capitalization, solid investment income and sound reserve development,” A.M. Best notes in a release. “The group has produced solid underwriting results, which have consistently increased equity over the last five years. Collectively, the group provides commercial property and casualty coverage as well as personal and specialty coverages throughout Canada.”