OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Trisura Guarantee Insurance Company (Trisura Guarantee) (Toronto, Ontario, Canada). The outlook of these Credit Ratings (ratings) remains stable.
The ratings reflect Trisura Guarantee’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The ratings consider the benefits received from the publicly traded ultimate parent, Trisura Group Ltd. [TSX: TSU]. The group was formed in June 2017 after spinning off from its prior parent, Brookfield Asset Management Inc., and is now a pure insurance operation.
Positive rating pressure may materialize if the company were to successfully expand its geographic and market presence while maintaining a trend of favorable operating performance in excess of peer averages. Negative rating pressure may materialize if the company were to incur significant reduction to its capitalization, or experience substantial losses in the profitability of its core book of business, or substantial adverse reserve development relative to peers and the industry averages.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
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