Oldwick, NJ–(business wire)–AM Best The long-term issuer credit rating (Long-Term ICR) of Peace Hills Insurance Company Limited (Peace Hills) was upgraded from “bbb” (Good) to “bbb+” (Good), and the financial rating of B++ (Good) was affirmed (Canada, Alberta). The outlook for these credit ratings is stable.
The rating reflects the strength of Peace Hills’ balance sheet, which AM Best assesses as strong, adequate operating results, a neutral business profile and adequate corporate risk management.
The Long-Term ICR upgrade reflects Peace Hills’ strongest level of risk-adjusted capital as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s risk-adjusted capital and results of operations have benefited from corrective actions taken to improve risk selection and higher interest rates in core business lines. The strength of Peace Hills’ balance sheet is further enhanced by improved liquidity metrics and reduced reliance on reinsurance. The stable outlook reflects the trend of good performance over the past three years.
Peace Hills is a writer of personal and commercial auto and property insurance, primarily in Alberta and British Columbia. The company is a subsidiary of Samson Cree Nation, an organization that conducts multiple non-insurance businesses.
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