A.M. Best Affirms Credit Ratings of Ameriprise Financial, Inc. and Its Life/Health Subsidiaries
The ratings of
The ratings of the L/H companies primarily reflect their strong risk-adjusted capital positions, favorable operating results, effective hedging programs, strong market positions and brand recognition.
The ratings of ACIC reflect its balance sheet strength, which
ACIC’s balance sheet assessment is supported by risk-adjusted capitalization being at the strongest level and a clean balance sheet with no debt. The credit quality of the company’s assets is high, with significant allocation to investment grade bonds.
The captive has generated strong operating performance as demonstrated by its five-year average pre-tax return on revenue and equity ratios that compare favorably with the averages for the commercial casualty composite. The captive benefits from a very low expense ratio.
ACIC’s business profile is assessed as limited, due to its narrow market focus as a single parent captive, serving just one customer (its parent) for a limited amount of exposure. ACIC provides various coverages to its parent in the form of errors & omissions policies, a workers’ compensation deductible reimbursement policy and fidelity bonds. ACIC’s ERM is assessed as appropriate, as the company has adopted the risk management strategies employed by
ACIC benefits from rating enhancement due to its strategic importance as a single parent captive insurance provider.
The following Long-Term IRs have been affirmed:
-- “a-” on
-- “a-” on
-- “a-” on
-- “a-” on
-- “a-” on
The following indicative Long-Term IRs have been affirmed under the current shelf registration:
-- “a-” on senior unsecured debt
-- “bbb+” on subordinated debt
-- “bbb” on preferred stock
Ameriprise Capital Trust I, II, III and IV—
-- “bbb” on trust preferred securities
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
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181005005274/en/
Financial Analyst II—L/H
+1 908 439 2200, ext. 5340
[email protected]
or
Senior Financial Analyst—P/C
+1 908 439 2200, ext. 5771
[email protected]
or
Manager, Public Relations
+1 908 439 2200, ext. 5159
[email protected]
or
Director, Public Relations
+1 908 439 2200, ext. 5644
[email protected]
Source:
US Adds Just 134K Jobs; Unemployment A 49-year Low, 3.7%
Governor Walker Requests Federal Disaster Aid for 18 Wisconsin Counties Following Severe Storms, Flooding in August, September
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News