A.M. Best assigns Everest a ‘superior’ financial strength rating

A.M. Best Co. has assigned a financial strength rating of A+ (Superior) to Everest Insurance Company of Canada (EvCan). The outlook is stable, according to A.M. Best. Everest is licensed to write property, automobile, surety, liability and other classes of insurance on a primary basis in Canada. “The assigned ratings reflect EvCan’s solid capitalization, expected operating results, reasonable business plan and a management team that is familiar with the business lines,” the ratings agency reports. “A.M. Best will closely monitor the performance of EvCan. Any material negative deviation from the business plan in terms of management, earnings, capitalization or risk profile could result in negative rating pressure.”