QUEBEC CITY, Sept. 22, 2014 /CNW Telbec/ - SSQ, Life Insurance Company Inc. has received a reconfirmation of its A.M. Best credit ratings. The credit rating agency published the results of its analysis, and for a third consecutive year, has assigned a financial strength rating of "A- (Excellent)" to SSQ, Life Insurance Company Inc. The company also received a credit issuer rating of "-a". The outlook for both ratings is stable.
"We are very proud of the ratings we received from A.M. Best after completing its thorough analysis. To repeat this performance, year after year, merely demonstrates our company's stability and its rigorous management. These results support the actions implemented in accordance with the current strategic plan to ensure our growth and sustainability," said Mr. René Hamel, SSQ Financial Group's Chief Executive Officer.
SSQ's leading position in Quebec's group insurance market, consistent and solid earnings, as well as adequate levels of capitalization are the factors that contributed to obtaining these credit ratings once again this year. The credit rating agency also recognizes the efforts in market development outside of Quebec, both in individual insurance and group insurance.
SSQ maintains an adequate risk-adjusted capital position, presents high credit quality in its fixed income investment portfolio and continued increases in its capital and surplus levels. A.M. Best also indicated that efforts to diversify business and growth outside of Quebec will be the key factors for SSQ Financial Group to maintain its good performance for years to come.
For more information about A.M. Best, please refer to the ambest.com website.
About SSQ Financial Group
With a business volume of $3 billion and over $11 billion in assets under management, SSQ Financial Group is a leading mutual diversified financial institution in Canada.
The Group serves over 1 million clients and provides jobs to nearly 2,000 employees. SSQ, Life Insurance Company Inc., the Group's principal company, is recognized as a leader in the group insurance industry and as an expert in the investment and retirement sector. SSQ Financial Group is also a rising star in home and auto insurance under the SSQ General Insurance Company Inc. banner and has expanded into the individual insurance market thanks to its subsidiary, SSQ Insurance Company Inc.
For more information, please visit ssq.ca.
SOURCE: SSQ FINANCIAL GROUP
For further information: Danielle Rioux, 1-866-332-3806, [email protected]