A.M. Best Affirms Ratings of Aviva Insurance Company of Canada and Its Affiliates

  A.M. Best Affirms Ratings of Aviva Insurance Company of Canada and Its
  Affiliates

Business Wire

OLDWICK, N.J. -- October 16, 2013

A.M. Best Co. has affirmed the financial strength rating (FSR) of A
(Excellent) and issuer credit ratings (ICR) of “a+” of Aviva Insurance Company
of Canada and its affiliates, Elite Insurance Company, Traders General
Insurance Company, Pilot Insurance Company, Scottish & York Insurance Company,
Limited and S&Y Insurance Company. The outlook for the FSR is stable, while
the outlook for the ICRs is negative. These companies are insurance
subsidiaries of their ultimate parent company, AVIVA plc (United Kingdom).The
Canadian operating entities are managed as one entity through common
management and have solid brand name recognition marketing under the Aviva
name.

The ratings acknowledge the importance of Aviva Insurance Company of Canada
and its affiliates to the AVIVA plc organization and the explicit and implicit
support derived from this relationship. Furthermore, the ratings reflect the
leading position of Aviva Insurance Company of Canada and its affiliates in
the Canadian property/casualty market along with their continued strong
operating performance and solid risk-adjusted capital position.

The ratings are partially offset by the companies’ strong competition for
market share and exposure to the challenging auto markets in certain parts of
Ontario.

Positive rating movement is unlikely at present. Negative rating actions could
occur if AVIVA plc’s financial leverage was to remain elevated, risk-adjusted
capitalization was to deteriorate significantly, and/or financial results were
negative in the coming financial periods.

The methodology used in determining these ratings is Best’s Credit Rating
Methodology, which provides a comprehensive explanation of A.M. Best’s rating
process and contains the different rating criteria employed in the rating
process. Best’s Credit Rating Methodology can be found at
www.ambest.com/ratings/methodology.

A.M. Best Company is the world’s oldest and most authoritative insurance
rating and information source. For more information, visit www.ambest.com.

       Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contact:

A.M. Best Co.
Jacqalene Lentz, 908-439-2200, ext. 5762
Senior Financial Analyst
jacqalene.lentz@ambest.com
or
Greg Williams, 908-439-2200, ext. 5815
Assistant Vice President
greg.williams@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
rachelle.morrow@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com