A.M. Best Co. has withdrawn the financial strength rating (FSR) of “B++” (Good) and assigned a category of “NR-5” (Not Formally Followed) to Canada’s Insurance Corporation of Newfoundland Limited (ICON).
“This rating action is a result of ICON’s amalgamation into its sister company, AXA General Insurance Company (AXA General) (Ontario, Canada), formerly Anglo Canada General Insurance Company,” said Best. “AXA General is a wholly owned subsidiary of AXA Assurances Inc. (Quebec), which is wholly owned by AXA Canada Inc. (Quebec). The amalgamation of ICON into AXA General became effective January 1, 2007.”
Topics Mergers & Acquisitions Canada
Was this article valuable?
Here are more articles you may enjoy.
Florida Appeals Court Reverses $200M Jury Verdict in Maya Kowalski Case 
The Future of the Agency in a World of AI 
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
France Makes New Arrests in Louvre Heist; Jewels Still Not Found 
