Temple downgraded, Munich Re Canada affirmed: A.M. Best

While Munich Reinsurance Co. of Canada has seen its “A+” (superior) rating affirmed by A.M. Best, its primary insurance affiliate, Temple Insurance Co. has been downgraded to “A” (excellent) from “A+”. Both ratings carry stable outlooks.While Temple enjoys strong capitalization and good operating performance, its rating is one level lower than the group due to its role as a niche operation.Munich Re Canada’s ratings reflects its unsatisfactory results, offset by its position as a core subsidiary of Munich Re Group, and its position as a market leader in Canada.