December 20 2021

A.M. Best affirms credit ratings for SSQ, Life Insurance Company Inc.

For the third consecutive year, international credit rating agency A.M. Best Co., specialized in the insurance sector, gave SSQ, Life Insurance Company Inc. a financial strength rating of “A (excellent)” and issuer credit rating of “a”. The future outlook of both ratings is stable.

It’s important to note that the rating agency raised the company’s ratings in September 2019 and reaffirmed them in January 2020 following the announcement that SSQ Insurance and La Capitale would be combining operations.

“We are very happy that A.M. Best, based on its yearly analysis, decided to maintain the excellent credit ratings of SSQ, Life Insurance Company Inc. In doing so, A.M. Best is acknowledging the company’s financial strength as well as the quality of its operational performance. This denotes the trust that A.M. Best has in the way the business combination of La Capitale and SSQ Insurance is being managed,” said Jean-François Chalifoux, President and Chief Executive Officer of Beneva.

SSQ Insurance's strong capitalization, solid and consistent earnings as well as its sound investment management practices were some of the reasons behind A.M. Best’s decision.

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About SSQ Insurance

Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. SSQ Insurance is one of the largest insurers in the country. A leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector.

In 2020, La Capitale and SSQ Insurance combined operations to create Beneva, the largest insurance mutual in Canada, with over 5,000 dedicated employees and more than 3.5 million members and customers.