A.M. Best affirms The Co-operators’ ratings

A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the subsidiaries of The Co-operators Group Limited (The Co-operators). The FSR of A- (Excellent) have been affirmed for Co-Operators General Insurance Company.The outlook for the ratings is stable, A.M. Best reports. “The ratings of Co-operators General are reflective of its strong capitalization, generally historically profitable operating performance as well as its market leadership position driven by strong brand name recognition, product line and geographic diversification and effective use of subsidiaries and multiple channels of distribution,” an A.M. Best release says.”Partially offsetting factors are Co-Operators General’s continued soft market in the commercial lines sector, strong competitive pressure in personal lines, challenging automobile markets and a trend of more frequent and severe losses from storms across Canada.”