A.M. Best assigns rating to Grain Insurance and Guarantee Company

A.M. Best Co. has assigned a financial strength rating (FSR) of A (Excellent) to Manitoba-based Grain Insurance and Guarantee Company. Grain Insurance and Guarantee also received an issuer credit rating of “a” from the rating agency. The outlook for both ratings is stable, says an A.M. Best release. “Partially offsetting these positive rating factors are the continued competitive pricing pressures throughout Canada, particularly in commercial lines, which affect the rate adequacies in the market, an elevated expense ratio, as well as Grain’s susceptibility to catastrophic events in the territories in which it operates,” the release continues.