A.M. Best Co. has withdrawn the financial strength rating (and assigned a category of NR-5 (Not
Formally Followed) to Insurance Corporation of Newfoundland Limited (ICON).

This rating action is a result of ICON’s amalgamation into its sister company, AXA General Insurance Company, formerly Anglo Canada General Insurance Company.

AXA General is a wholly owned subsidiary of AXA Assurances Inc., which is wholly owned by AXA Canada Inc. The amalgamation of ICON into AXA General became effective January 1,.

http://www.newswire.ca/en/releases/archive/March2007/19/c3964.html