The ratings reflect Ally Insurance’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The rating upgrades reflect the favorable impact of improvement in the financial condition of the ultimate parent, Ally Financial Inc. [NYSE: ALLY], and positive trends as credit default swap spreads and financial leverage ratios continue to decline. Ally Financial Inc. is a
Factors that may lead to positive rating actions include improved and sustainable underwriting and operating performance that outperforms peers and the property/casualty industry throughout the underwriting cycle. Positive rating actions may occur from improvement in the financial condition of the ultimate parent, Ally Financial, Inc. Negative rating factors include significant weakening of risk-adjusted capitalization, an unfavorable operating performance trend, or deterioration in the financial condition of Ally Financial, Inc.
This press release relates to Credit Ratings that have been published on AM 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 AM 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 AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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Source: AM Best