OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of InnovAssur, assurances generals inc. (InnovAssur) (Quebec). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings of InnovAssur as its management has requested that this entity no longer participate in A.M. Best’s interactive rating process.
The ratings for InnovAssur recognize its strong risk-adjusted capitalization, profitable operating performance and favorable business environment. These strengths are partially offset by the company's geographic and product line concentration and its single distribution channel.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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