A.M. Best Co. announced that it has placed the financial strength rating of “B++” (Very Good) of L’Unique Compagnie D’Assurances Generales (Quebec) under review with developing implications.
“The current under review status reflects the pending sale of L’Unique to La Capitale, Compagnie D’Assurance Generale (Quebec),” said Best. “La Capitale is the general insurance subsidiary of La Capitale Financial Group Inc., which is ultimately owned by La Capitale Civil Service Mutual.”
Best also noted that the “public data rating (pd) of ‘A-pd’ (Excellent) of La Capitale is unaffected by this sales transaction as public data ratings do not incorporate the comprehensive scope and analysis afforded by an interactive rating.”
Best said the rating “will remain under review pending regulatory approval and A.M. Best’s discussions with management on the future direction of L’Unique.”
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