Ratings on eight Canadian companies downgraded: A.M. Best

In releasing public data ratings on 44 Canadian p&c companies, eight faced downgrades, while only two saw their ratings go up, states New Jersey-based A.M. Best.Public data ratings are based on more limited information than interactive ratings, but does take into account publicly available data on operating performance and balance-sheet strength. It also uses comparisons with peer companies and analysis of markets in which the company operates.Facing ratings downgrades are:Algoma Mutual Insurance Company (B-)CAA Insurance Company, Ontario (B)CUMIS General Insurance Company (C++)Canadian Northern Shield Insurance Company (C++)Peace Hills General Insurance Company (C++)BCAA Insurance Corporation (B-)Maritime Insurance Company Limited, Canadian Branch (B)West Wawanosh Mutual Insurance Company (B)The two upgraded companies are Security National Insurance Company (B++) and Antigonish Farmers Mutual Fire Insurance (B++). As well, initial ratings were assigned to Clare Mutual Insurance Company (B-) and Saskatchewan Motor Club Insurance Company Limited (B+).The full listing, including companies whose ratings were affirmed, is at www.ambest.ca.