Financial Group

A.M. Best reconfirms the credit ratings of SSQ, Life Insurance Company Inc.

A.M. Best Co. reconfirmed the credit ratings assigned to SSQ, Life Insurance Company Inc. The credit rating agency published the results of its analysis and has assigned, for the second consecutive year, a financial strength rating of “A- (excellent)” to SSQ, Life Insurance Company Inc. The agency has also assigned an issuer credit rating of “a-”. The outlook for both ratings is stable.

“The ratings assigned to us once again this year by A.M. Best are clear evidence that SSQ Financial Group’s business strategy of doing things differently is bearing fruit. Despite a context that continues to present significant challenges on many levels, the ratings assigned by A.M. Best demonstrate our solid position in the Quebec market and reflect our strength and performance. Our business growth as well as our financial results are therefore in keeping with the credit rating agency’s expectations”, said SSQ Financial Group’s Chief Executive Officer, Mr. René Hamel.

SSQ’s dominant 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. Moreover, according to the credit rating agency, SSQ maintains an adequate risk-adjusted capital position, presents high credit quality in its fixed income investment portfolio and continued increases in its aggregate capital and surplus levels. SSQ’s adequate capitalization has enabled it to retain a significant portion of new business with relatively low utilization of reinsurance to support growth initiatives.

Finally, A.M. Best believes that SSQ Financial Group’s diversified value proposition, enhanced by the rapid integration of its new subsidiary, SSQ Insurance, positions the company well to gradually increase its market share outside of Quebec.

For more information on A.M. Best, go to ambest.com.