AM Best Offers Credit Cards for La Capitale General Insurance Inc., La Capitale Civil Service Insurer Inc.; Guarantees the Loans of other Subsidiaries of Beneva Inc.

OLDWICK, NJ–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long Term Credit Rating (ICR) of “a” (Excellent) to La Capitale General Insurance Inc. (La Capitale General Insurance). Additionally, AM Best has assigned an FSR of A (Outstanding) and a Long-Term ICR of “a” (Outstanding) to La Capitale Civil Service Insurer Inc. (La Capitale Civil Service Insurer). The ratings given to the Credit Ratings (ratings) are fixed. Additionally, AM Best has affirmed the FSR of A (Outstanding) and Long-Term ICRs of “a” (Outstanding) for SSQ Life Insurance Company, Inc. (SSQ Life), L’Unique General Insurance Inc. (L’) Unique) and Unica Insurance Inc. (Unica). These ratings are subjective.

La Capitale Civil Service Insurer’s ratings reflect its strength, which AM Best considers to be very strong, as well as its operational efficiency, neutral business history and effective corporate governance (ERM). La Capitale Civil Service Insurer operates as a generalist within group insurance, group insurance, income, personal lines and product lines.

La Capitale General Insurance’s ratings reflect its strengths, which AM Best considers to be very strong, as well as its operational efficiency, neutral business history and appropriate ERM. La Capitale General Insurance operates as a generalist within personal lines and commercial lines.

The business is registered through direct distribution channels in Quebec.

SSQ Life’s ratings reflect its balance sheet strength, which AM Best considers very strong, as well as its strong performance, neutral business history and appropriate ERM. AM Best expects SSQ Life’s strong performance to continue to drive financial growth following the brand’s merger with Beneva Inc., which will begin in 2023.

L’Unique’s ratings reflect its bank’s strength, which AM Best considers to be very strong, as well as its overall performance, neutral business profile and appropriate ERM. L’Unique was founded in 1978 and underwrites auto, home, recreational vehicle, and commercial insurance through a group of brokers, exclusively in Quebec.

Unica’s ratings reflect its bank’s strength, which AM Best rates as very strong, as well as its proper operations, low business history and proper ERM. Unica, founded in 1955, provides commercial and VIP insurance solutions to protect customers’ homes, vehicles and businesses, while providing umbrellas. Unica writes within Ontario only and distributes products through a network of insurance brokers.

The ratings of La Capitale Civil Service Insurance, La Capitale General Insurance, Unica and L’Unique take into account the benefits that each organization receives working as part of the main Beneva organization in support of the general business plan. These ratings also show the commitment of Beneva’s management to integrate each company into the whole organization with SSQ Life, which makes the organization able to offer a wide range of customers.

This article relates to the Credit Ratings published on the AM Best website. For all information related to the release and relevant disclosures, including office details

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