A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Toronto, Canada-based St. Paul Guarantee Insurance Company.
At the same time Best withdrew the financial strength rating of “A+” (Excellent) of its affiliate company, Travelers Casualty and Surety Company of Canada and assigned it a rating of “NR-5” (Not Formally Followed). Both ratings have been removed from under review with developing implications, and St. Paul Guarantee has been assigned a “stable” rating outlook.
“These rating actions follow the January 1, 2005, completion of the amalgamation of St. Paul Guarantee and Travelers Canada,” said Best. “St. Paul Guarantee is a prominent insurer specializing in liability insurance and surety products in the Canadian marketplace.”
Best also noted that “the company is a strategic subsidiary of The St. Paul Travelers Companies, Inc. and as such, St. Paul Guarantee benefits from St. Paul Travelers’ management and underwriting expertise, financial flexibility and operational support.”
Topics Canada
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
More Americans Are Moving Away From Flood Risk Than Toward It 
