A.M. Best Places Ratings of L’Union Canadienne, Compagnie D’Assurances Under Review With Developing Implications

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has placed under review with developing implications the financial strength rating of B+ (Good) and issuer credit rating (ICR) of “bbb-” of L’Union Canadienne, Compangie D’Assurances (L’Union) (Quebec). L’Union is a subsidiary of Co-operators General Insurance Company (Co-operators) (Ontario).

The under review status follows Co-operators June 6, 2012 announcement of a definitive agreement under which Roins Financial Services Limited (RFSL), an intermediate holding company of RSA Insurance Group plc (United Kingdom), will acquire L’Union. The ratings will remain under review until completion of the transaction and until A.M. Best conducts further analysis and discussions with management. The transaction is expected to close in the fall of 2012, subject to regulatory approval.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding Canadian BCAR for Property/Casualty Insurers”; and “Rating Members of Insurance Groups.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.

A.M. Best
Jacqalene Catrino Lentz, (908) 439-2200, ext. 5762
Senior Financial Analyst
[email protected]
orGreg Williams, (908) 439-2200, ext. 5815
Managing Senior Financial Analyst
[email protected]
orRachelle Morrow, (908) 439-2200, ext. 5378
Senior Manager, Public Relations
[email protected]
orJim Peavy, (908) 439-2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best Company, Inc.