Best Affirms St. Paul Guarantee (Canada) Rating; Withdraws Travelers Canada Rating

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