A.M. Best Co. has affirmed the public data ratings for eight Canadian life insurers.

PD ratings are used to describe the long-term financial strength of an insurer or reinsurer. The Oldwick, N.J.-based global insurer ratings and information provider uses the same rating scale and definitions as it does for its long-term financial strength interactive ratings but applies a “pd” rating modifier to ensure the user is aware of the more limited information basis for the rating.

As with interactive rating process, PD ratings incorporate a review of balance sheet strength, operating performance and business profile. The analysis reflects knowledge of the company’s peers, the market sectors in which the company operates and the strategic and financial outlook for those sectors.

The highest rating is for Desjardins Financial Security, at A-pd. Three companies — CUMIS Life Insurance Co., Scotia Life Insurance Co., and Equitable Life Insurance Co. of Canada — were rated B++pd. Three others — CIGNA Life Insurance Co. of Canada, Reliable Life Insurance Co. and Unity Life of Canada, were rated B+pd, while GAN VIE Compagnie Française d’Assurance sur la vie received a Bpd.

The PD rating is based on a detailed review by a committee of A.M. Best insurance analysts. They present the most informed view A.M. Best can offer, short of an insurer participating in the full interactive rating process.