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AM Best Takes Various Credit Rating Actions on Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company; Affirms Credit Ratings of Definity Financial Corporation
AM Best has taken credit rating actions on Travelers Insurance Company of Canada (TICC) and The Dominion of Canada General Insurance Company (Dominion), and affirmed ratings for Definity Financial Corporation. TICC’s ratings were downgraded and removed from under review with negative implications due to a lower business profile assessment after Definity Financial’s acquisition, which resulted in the loss of its surety operations. Dominion’s ratings were affirmed with a stable outlook, reflecting no material change post-acquisition, while Definity’s ratings were affirmed based on strong capitalization, operating performance, and strategic acquisitions that enhance its market position.