Best Announces Rating Actions of 53 Canadian Insurers

June 23, 2008

A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of 30 Canadian P/C companies; upgraded seven FSRs and ICRs; upgraded seven ICRs (with no change to the FSRs); assigned four FSRs and ICRs; and downgraded five FSRs and ICRs.

The ratings, which are based solely upon public information and present the most informed view Best said it can offer, are as follows:

Company Name FSR ICR
Algoma Mutual Insurance Company B+ (Good) “bbb”
Allstate Insurance Company of Canada A- (Excellent) “a-“
Antigonish Farmers Mutual Insurance Co. B+Good) “bb-“
Aviva Insurance Company of Canada A- (Excellent) “a-“
BCAA Insurance Corporation B+ (Good) “bbb-“
Canadian Direct Insurance Inc. B+ (Good) “bbb-“
La Capitale, Compagnie D’Assurance Generale A- (Excellent) “a-“
Certas Direct Insurance Company B++ (Good) “bbb”
Clare Mutual Insurance Company B+ (Good) “bbb-“
The Dominion of Canada General Insurance Co. A-( Excellent) “a-“
Economical Mutual Insurance Company B++ (Good) “bbb”
Federation Insurance Company of Canada B++ (Good) “bbb-“
Fenchurch General Insurance Company B++ (Good) “bbb”
First North American Insurance Company B++ (Good) “bbb”
Glengarry Mutual Insurance Company B++ (Good) “bbb”
The Kings Mutual Insurance Company B+ (Good) “bbb-“
Legacy General Insurance Company A- (Excellent) “a-“
London and Midland General Insurance Co. A- (Excellent) “a-“
The Missisquoi Insurance Company B++ (Good) “bbb”
The Mutual Fire Insurance Company of B.C B++ (Good) “bbb+”
North Waterloo Farmers Mutual Insurance Co. B++ (Good) ” bbb”
Pacific Coast Fishermens Mutual Marine B++ (Good) “bbb”
The Personal Insurance Company B+ (Good) ” bbb-“
Perth Insurance Company B+ (Good) “bbb-“
Pool Insurance Company B+ (Good) “bbb-“
The Portage La Prairie Mutual Insurance Co. B++ Good) “bbb”
Promutuel Reassurance B++ (Good) “bbb”
Saskatchewan Mutual Insurance Company A- (Excellent) “a-“
Traders General Insurance Company B+ (Good) “bbb-“
Waterloo Insurance Company B++ (Good) “bbb”

Best upgraded the FSRs and ICRs of the following Canadian P/C companies:
Company Name FSR ICR
CUMIS General Insurance Company B+ (Good) “bbb-“
Grain Insurance and Guarantee Company A- (Excellent) “a-“
Pembridge Insurance Company A- (Excellent) “a-“
RBC Insurance Company of Canada A- (Excellent) “a-“
RBC General Insurance Company B++ (Good) “bbb”
Red River Valley Mutual Insurance Co. A- (Excellent) “a-“
L’Unique Cie. D’Assurances Generales A- (Excellent) “a-”

Best has affirmed the FSRs and upgraded ICRs of the following Canadian P/C companies:
Company Name FSR ICR
Farmers’ Mutual Insurance Co. (Lindsay) B++ (Good) “bbb+”
Gore Mutual Insurance Company B++ (Good) “bbb+”
Green Shield Canada B++ (Good) “bbb+”
Industrial-Alliance General Insurance Co. C++ (Marginal) “b+”
Pictou County Farmers Mutual Fire B++ (Good) “bbb+”
Prince Edward Island Mutual Insurance Co. B++ (Good) “bbb+”
Western Surety Company B++ (Good) “bbb+”

Best has assigned FSRs and ICRs to the following Canadian P/C companies:
Company Name FSR ICR
Alpha Assurance Company A- (Excellent) “a-“
Desjardins Assurances Generales Inc. B (Fair) “bb+”
Personal General Insurance Inc. C+ (Marginal) “b-“
TD Home and Auto Insurance Company B+ (Good) “bbb-”

Best has downgraded the FSRs and ICRs of the following Canadian P/C companies:
Company Name FSR ICR
Alberta Motor Association Insurance Co .B++ (Good) “bbb”
Elite Insurance Company B (Fair) “bb”
Primmum Insurance Company B (Fair) “bb”
Security National Insurance Company B+ (Good) “bbb-“
TD General Insurance Company B (Fair) “bb+”

Source: A.M. Best –

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