October 12, 2005 15:51 ET

A.M. Best Affirms Rating of GCAN Insurance Company

OLDWICK, N.J.--(CCNMatthews - Oct 12, 2005) -

A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of GCAN Insurance Company (Toronto) following the announcement that the Ontario Teachers' Pension Plan (OTPP) had acquired the ownership of the company from Torquest Partners Value Fund L.P., Newport Capital Insurance Limited Partnership, CIBC Capital Partners and management. The rating outlook is stable.

GCAN is a successful commercial lines insurance carrier in Canada. The company has a long history of superior underwriting and operating performance, which supports its excellent capitalization.

OTPP was established by the Province of Ontario to administer and manage the plan's assets and benefits for active and retired teachers throughout Ontario.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.

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