DBRS confirmed the issuer rating and financial strength rating of Industrial Alliance Insurance and Financial Services Inc. at A (high).

The rating agency said its assessment is based on the company's good earnings ability, which is driven by its willingness to pursue niche opportunities in the P&C space, focus on further strengthening distribution networks and proactive pricing decisions.

The stable trend on the ratings reflects Industrial Alliance's good financial metrics, proactive risk management and strong capital levels, DBRS said.