AM Best, Credit Ratings La Capitale General Insurance Inc., La Capitale Civil Service Insurer Inc.; Some Beneva Inc. Confirms Credit Ratings of Subsidiaries

OLDWICK, NJ–(WORK TEL)–AM Best It has given La Capitale General Insurance Inc. (La Capitale General Insurance) A (Excellent) Financial Strength Rating (FSR) and “a” (Excellent) Long Term Credit Rating (Long Term ICR). In addition, AM Best has assigned La Capitale Civil Service Insurer Inc. (La Capitale Civil Service Insurer) FSR A (Excellent) and Long Term ICR “a” (Excellent). The outlook assigned to these Credit Ratings(s) is static. In addition, AM Best, SSQ Life Insurance Company, Inc. (SSQ Life), L’Unique General Insurance Inc. (L’) companies have approved the FSR of A (Excellent) and the Long Term ICR of “a” (Excellent). Unique) and Unica Insurance Inc. (Unica). The outlook for these notes is stable.

La Capitale Civil Service Insurer’s ratings reflect adequate operating performance, unbiased business profile and appropriate enterprise risk management (ERM), along with balance sheet strength that AM Best considers very strong. La Capitale Civil Service Insurer operates as a generalist in individual insurance, group insurance, savings, personal lines and commercial product lines.

La Capitale General Insurance’s ratings reflect balance sheet strength, adequate operating performance, unbiased business profile and appropriate ERM, which AM Best considers very strong. La Capitale General Insurance operates as a generalist within the personal lines and commercial product lines.

The work is written through direct distribution channels in Quebec.

SSQ Life’s ratings reflect strong operating performance, unbiased business profile and appropriate ERM, as well as balance sheet strength, which AM Best considers very strong. AM Best expects SSQ Life’s consistently positive operating performance to continue to drive capital growth following its anticipated brand integration into Beneva Inc., set to begin in 2023.

L’Unique’s ratings reflect balance sheet strength, adequate operating performance, unbiased business profile and appropriate ERM, which AM Best considers very strong. L’Unique was founded in 1978 and writes auto, home, recreational vehicle and commercial insurance through a network of brokers based exclusively in Quebec.

Unica’s ratings reflect balance sheet strength, adequate operating performance, limited business profile and appropriate ERM, which AM Best considers very strong. Originally founded in 1955, Unica provides niche commercial and VIP personal insurance solutions to protect the homes, vehicles and businesses of high net worth clients while also providing umbrella liability. Unica writes and distributes products exclusively within Ontario through a select network of insurance brokers.

The ratings of La Capitale Civil Service Insurer, La Capitale General Insurance, Unica, and L’Unique consider the benefit received by each organization operating as part of the larger Beneva organization that supports the joint business strategy. The ratings also reflect Beneva management’s commitment to further integrate each company with SSQ Life into the overall organization, resulting in a broader organization serving diverse clients.

This press release is about Credit Ratings posted on AM Best’s website. For all rating information regarding the release and related disclosures, including details of the office

Responsible for posting each of the individual ratings referenced in this release, please refer to AM Best’s Final Rating Event Internet page. For additional information on the use and limitations of Credit Rating views, please review. Best’s Credit Rating Guide. For information on the proper use of Best’s Credit Ratings, Best’s Performance Ratings, Best’s Pre-Credit Ratings and AM Best press releases, please refer to this page: Guide to the Correct Use of Best’s Ratings and Reviews.

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 operates 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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