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Canada Saturday, June 24, 2017

Get any of the following
Company Annuity Quotes

 

BMO Insurance

 

Canada Life

 

Desjardins

 

Empire Life insurance

 

Equitable Life

 

Great-West Life

 

Industrial Alliance

 

ivari

 

La Capitale

 

Manulife

 

RBC Insurance

 

Sun Life

Annuity Company Credit Ratings

AM Best, Standard and Poor

 

The following is a list of the top 12 life insurance companies that provide annuities in Canada. Source are from AM Best and Standard & Poor which are the leading financial rating institutions.

 

You can also receive free annuity quotes from any of these companies.

 

 

Insurance Company Credit Rating
Company A.M. Best Standard & Poor
Rating Outlook Rating Outlook
BMO Life Assurance Company a Stable n/r -
The Canada Life Insurance Company of Canada aa Stable A+ Stable
Desjardins Financial Security Life Assurance Company n/r - A+ Stable
Empire Life Insurance Company a Stable n/r -
The Equitable Life Insurance Company of Canada n/r - AA- Stable
Great-West Lifeco Inc a Stable A+ Stable
Industrial Alliance Insurance and Financial Services Inc. aa- Stable n/r -
ivari a Stable n/r -
La Capitale Financial Security Ins Co n/r - n/r -
Manulife Financial Corporation a- Stable A+ Stable
RBC Insurance Company of Canada a Stable n/r -
Sun Life Assurance Company of Canada aa- Stable AA- Positive

*Insurance company ratings are subject to change without notice.

 

 

AM Best

A.M. Best is the premier source for Canada region ratings, analysis, and research.

 

A.M. Best was founded in 1899 by Alfred M. Best with the mission to report on the financial stability of insurers and the insurance industry. It is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus. (source: ambest.com)

 

 

A.M. Best Financial Strength Rating Guide
Rating Category Rating Symbol Category Definition
Superior a+ Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations.
Excellent a Assigned to insurance companies that have, in our opinion, an excellent ability to meet their ongoing insurance obligations.
Good b+ Assigned to insurance companies that have, in our opinion, a good ability to meet their ongoing insurance obligations.
Fair b Assigned to insurance companies that have, in our opinion, a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.
Marginal c+ Assigned to insurance companies that have, in our opinion, a marginal ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.
Weak c Assigned to insurance companies that have, in our opinion, a weak ability to meet their ongoing insurance obligations. Financial strength is very vulnerable to adverse changes in underwriting and economic conditions.
Poor d Assigned to insurance companies that have, in our opinion, a poor ability to meet their ongoing insurance obligations. Financial strength is extremely vulnerable to adverse changes in underwriting and economic conditions.
Not Rated n/r Status assigned to insurance companies that are not rated; may include previously rated insurance companies or insurance companies that have never been rated by AMBRS.

 

 

Standard & Poor

S&P Global Ratings and its predecessor organizations have been in business for more than 150 years. We are the world’s leading provider of credit ratings. We have more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. Our ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence. (source: spratings.com)

 

 

S&P Global Ratings Definitions

Long-Term Insurer Financial Strength Ratings

 

Category Definition
AAA An insurer rated 'AAA' has extremely strong financial security characteristics. 'AAA' is the highest insurer financial strength rating assigned by S&P Global Ratings.
AA An insurer rated 'AA' has very strong financial security characteristics, differing only slightly from those rated higher.
A An insurer rated 'A' has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings.
BBB An insurer rated 'BBB' has good financial security characteristics, but is more likely to be affected by adverse business conditions than are higher-rated insurers.
BB; B; CCC; and CC An insurer rated 'BB' or lower is regarded as having vulnerable characteristics that may outweigh its strengths. 'BB' indicates the least degree of vulnerability within the range; 'CC' the highest.
BB An insurer rated 'BB' has marginal financial security characteristics. Positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments.
B An insurer rated 'B' has weak financial security characteristics. Adverse business conditions will likely impair its ability to meet financial commitments.
CCC An insurer rated 'CCC' has very weak financial security characteristics, and is dependent on favorable business conditions to meet financial commitments.
CC An insurer rated 'CC' has extremely weak financial security characteristics and is likely not to meet some of its financial commitments.
R An insurer rated 'R' is under regulatory supervision owing to its financial condition. During the pendency of the regulatory supervision, the regulators may have the power to favor one class of obligations over others or pay some obligations and not others. The rating does not apply to insurers subject only to nonfinancial actions such as market conduct violations.
SD or D An insurer rated 'SD' (selective default) or 'D' is in default on one or more of its insurance policy obligations but is not under regulatory supervision that would involve a rating of 'R'. The 'D' rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on a policy obligation are at risk. A 'D' rating is assigned when S&P Global Ratings believes that the default will be a general default and that the obligor will fail to pay substantially all of its obligations in full in accordance with the policy terms. An 'SD' rating is assigned when S&P Global Ratings believes that the insurer has selectively defaulted on a specific class of policies but it will continue to meet its payment obligations on other classes of obligations. A selective default includes the completion of a distressed exchange offer. Claim denials due to lack of coverage or other legally permitted defenses are not considered defaults.
NR An insurer designated 'NR' is not rated.

 

 

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