A.M. Best assigns ‘A’ rating to Aviva Canada

A.M. Best has assigned a financial strength rating of A (Excellent) and issuer credit ratings of “a+” to Aviva Insurance Company of Canada and its affiliates.Aviva’s affiliates include Elite Insurance Company, Traders General Insurance Company, Pilot Insurance Company, Scottish & York Insurance Company and S&Y Insurance Company. The outlook assigned to all ratings is positive.The ratings reflect Aviva’s “solid brand name recognition” and “the companies’ strong consolidated risk-adjusted capitalization, historically profitable operating performance and strong business profile,” an AM Best release says.The ratings are partially offset by soft commercial lines pricing in Canada, strong competition for market and exposure to the challenging auto markets in certain parts of Ontario, it continues.