DBRS raises Intact Financial

DBRS said it raised Intact Financial Corp.’s issuer rating to A(high) from A. The agency also upgraded Intact subsidiary RSA Insurance Group Ltd.’s issuer rating to A(high) from A and changed the trend for both companies to stable from positive.

“The ratings and stable trends reflect Intact’s well-designed and executed enterprise-wide risk management processes and focus on advanced data analytics and loss modeling that is evident in industry-leading combined ratios that support earnings generation.

“Additionally, regulatory capital levels are consistently above regulatory targets providing a considerable capital cushion to deal with market stress events or similar adverse developments. The ratings and trends also consider Intact retaining more risk given higher reinsurance costs and higher leverage following the acquisitions,” the agency said in a press release.

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