A.M. Best Affirms Credit Ratings of Electric Insurance Company and Its Subsidiary
The ratings reflect Electric's strong risk-adjusted capitalization, sustained operating profitability and broad geographic and product line diversification. The ratings also take into consideration the value-added commercial insurance services provided to General Electric Company (GE), as well as Electric's strategic importance to
The ratings of Electric are afforded to EIIDAC primarily due to its affiliation with Electric, its integration into Electric's business plan, as well as its supportive capitalization, profitable operating performance and strategic role in providing commercial lines products to
Partially offsetting these positive rating factors are the limitations on its commercial lines business to one policyholder,
Future positive rating action could be taken if Electric's profitability and capital appreciation continue to remain strong. However, the ratings may come under negative pressure if there is a material weakening in risk-adjusted capital or a reduction in Electric's strategic importance to
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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