Latest news with #TICC
Yahoo
4 days ago
- Business
- Yahoo
AM Best Downgrades Credit Ratings of The Dominion of Canada General Insurance Company and Travelers Insurance Company of Canada Following Announced Sale to Definity Financial Corporation; Places Credit Ratings Under Review With Various Implications
OLDWICK, N.J., June 04, 2025--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a-" (Excellent) from "a" (Excellent) of The Dominion of Canada General Insurance Company (Dominion). At the same time, AM Best has downgraded the FSR to A+ (Superior) from A++ (Superior) and the Long-Term ICR to "aa-" (Superior) from "aa+" (Superior) of Travelers Insurance Company of Canada (TICC). In addition. AM Best has placed Dominion's Credit Ratings (ratings) under review with developing implications, while AM Best has placed TICC under review with negative implications. Dominion and TICC are domiciled in Toronto, Ontario, Canada. The ratings of Dominion reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings of TICC reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate ERM. The Travelers Companies, Inc. (TRV) (NYSE: TRV) announced that it signed an agreement to sell the personal insurance business and most of the commercial insurance business of Travelers Canada, which include Dominion and TICC, to Definity Financial Corporation. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions. The announcement has triggered the removal of the TRV lift from Dominion and TICC, which have been placed under review, and while Dominion will have developing implications, TICC will have negative implications as a result of the higher rating compared with the rating of the new parent company at close. AM Best will continue to monitor events related to this transaction and provide updates as conditions warrant. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. 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 over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts David Marek Associate Director +1 908 882 1924 Carlos Wong-Fupuy Senior Director +1 908 882 2438 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
4 days ago
- Business
- Yahoo
AM Best Downgrades Credit Ratings of The Dominion of Canada General Insurance Company and Travelers Insurance Company of Canada Following Announced Sale to Definity Financial Corporation; Places Credit Ratings Under Review With Various Implications
OLDWICK, N.J., June 04, 2025--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a-" (Excellent) from "a" (Excellent) of The Dominion of Canada General Insurance Company (Dominion). At the same time, AM Best has downgraded the FSR to A+ (Superior) from A++ (Superior) and the Long-Term ICR to "aa-" (Superior) from "aa+" (Superior) of Travelers Insurance Company of Canada (TICC). In addition. AM Best has placed Dominion's Credit Ratings (ratings) under review with developing implications, while AM Best has placed TICC under review with negative implications. Dominion and TICC are domiciled in Toronto, Ontario, Canada. The ratings of Dominion reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings of TICC reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate ERM. The Travelers Companies, Inc. (TRV) (NYSE: TRV) announced that it signed an agreement to sell the personal insurance business and most of the commercial insurance business of Travelers Canada, which include Dominion and TICC, to Definity Financial Corporation. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions. The announcement has triggered the removal of the TRV lift from Dominion and TICC, which have been placed under review, and while Dominion will have developing implications, TICC will have negative implications as a result of the higher rating compared with the rating of the new parent company at close. AM Best will continue to monitor events related to this transaction and provide updates as conditions warrant. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. 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 over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts David Marek Associate Director +1 908 882 1924 Carlos Wong-Fupuy Senior Director +1 908 882 2438 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
Business Wire
4 days ago
- Business
- Business Wire
AM Best Downgrades Credit Ratings of The Dominion of Canada General Insurance Company and Travelers Insurance Company of Canada Following Announced Sale to Definity Financial Corporation; Places Credit Ratings Under Review With Various Implications
BUSINESS WIRE)-- AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to 'a-' (Excellent) from 'a' (Excellent) of The Dominion of Canada General Insurance Company (Dominion). At the same time, AM Best has downgraded the FSR to A+ (Superior) from A++ (Superior) and the Long-Term ICR to 'aa-' (Superior) from 'aa+' (Superior) of Travelers Insurance Company of Canada (TICC). In addition. AM Best has placed Dominion's Credit Ratings (ratings) under review with developing implications, while AM Best has placed TICC under review with negative implications. Dominion and TICC are domiciled in Toronto, Ontario, Canada. The ratings of Dominion reflect its balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings of TICC reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate ERM. The Travelers Companies, Inc. (TRV) (NYSE: TRV) announced that it signed an agreement to sell the personal insurance business and most of the commercial insurance business of Travelers Canada, which include Dominion and TICC, to Definity Financial Corporation. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions. The announcement has triggered the removal of the TRV lift from Dominion and TICC, which have been placed under review, and while Dominion will have developing implications, TICC will have negative implications as a result of the higher rating compared with the rating of the new parent company at close. AM Best will continue to monitor events related to this transaction and provide updates as conditions warrant. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Associated Press
6 days ago
- Business
- Associated Press
Acuren Corporation Announces Upcoming Participation in the Baird 2025 Global Consumer, Technology & Services Conference
TOMBALL, Texas--(BUSINESS WIRE)--Jun 2, 2025-- Acuren Corporation (NYSE: TIC) (the ' Company ' or ' Acuren '), a leading provider of critical asset integrity services, today announced that its senior leadership will be participating in the Baird 2025 Global Consumer, Technology & Services Conference on Wednesday, June 4, 2025 in New York, NY. About Acuren: Acuren is a leading provider of critical asset integrity services. The company operates primarily in North America serving a broad range of industrial markets. It provides these essential and often compliance-mandated (often at customer locations) services in the industrial space and is focused on the recurring maintenance needs of its customers. The work Acuren does fits in the service category referred to as Testing, Inspection, Certification, and Compliance (TICC) including Nondestructive Testing (NDT) in the field and the laboratory and in-lab destructive testing capabilities. More information can be found at View source version on CONTACT: Investor Relations Inquiries: Dan Scott / Rodny Nacier ICR Inc. [email protected] KEYWORD: TEXAS NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY MANUFACTURING OTHER NATURAL RESOURCES MINING/MINERALS OTHER ENERGY OTHER TECHNOLOGY NATURAL RESOURCES OTHER MANUFACTURING OIL/GAS ENERGY ENGINEERING SOURCE: Acuren Corporation Copyright Business Wire 2025. PUB: 06/02/2025 07:00 AM/DISC: 06/02/2025 06:58 AM
