Insurance company

AM Best improves credit rating of issuer of Peace Hills General Insurance Company

OLDWICK, NJ–(BUSINESS WIRE)–AM Best upgraded the issuer’s long-term credit rating (long-term ICR) from “bbb” (good) to “bbb+” (good) and affirmed Peace Hills General Insurance’s financial strength rating of B++ (good) Company (Peace Hills) (Alberta, Canada). The outlook for these Credit Ratings (ratings) is stable.

The ratings reflect Peace Hills’ balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The long-term ICR upgrade reflects Peace Hills’ highest risk-adjusted capitalization level, as measured by Best’s capital adequacy ratio (BCAR). The company’s risk-adjusted capitalization and operational performance benefited from the corrective actions taken to improve risk selection as well as price increases in its core businesses. Peace Hills’ balance sheet strength is further strengthened by improving liquidity metrics and reducing reliance on reinsurance. The stable outlook reflects a favorable operating performance trend over the past three years.

Peace Hills is a personal and commercial auto and property insurer, primarily in Alberta and British Columbia. The company is a subsidiary of the Samson Cree Nation, an organization with multiple non-insurance activities.

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AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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