QUEBEC CITY, Sept. 19, 2019 /CNW Telbec/ - SSQ Insurance is very pleased with the decision by A.M. Best Co. to upgrade the credit ratings for SSQ, Life Insurance Company Inc. The international rating agency specializing in insurance upgraded the insurer's rating for financial strength from "A-" to "A (excellent)." The issuer credit rating has also been increased to "a." The outlook attributed to both ratings is stable.
"We are very proud of the ratings we've received from A.M. Best following its rigorous review. The upgrades confirm the relevance of the company's transformation initiated in 2016, which has enabled us to improve our operational efficiency. The results, which are based on our financial strength, demonstrate our firm commitment to our members and customers and the company's sustainability, the same year that SSQ Insurance is celebrating its 75th anniversary," said SSQ Insurance CEO Jean-François Chalifoux.
The rating agency recently published its analysis with the increase to the insurer's rating, highlighting its excellent solvency ratio and the company's low debt. The agency also indicated that the excellent return on shareholders' equity, earnings growth and sound risk management contributed to the revision.
For more information, please refer to the press release published by A.M. Best.
About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With assets under management of $12 billion, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs over 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector. For more information, please visit ssq.ca.
SOURCE SSQ Insurance
For further information: SSQ Insurance, 1-866-332-3806 / [email protected]