AM Best Affirms Credit Ratings for Members of Ally Insurance Group


AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” for the members of Ally Insurance Group (Ally Insurance). The members include Motors Insurance Corporation and its reinsured subsidiaries, MIC Property and Casualty Insurance Corporation and CIM Insurance Corporation, as well as an affiliate, Ally International Insurance Company Ltd. (AIICL). All companies are domiciled in Detroit, MI, except AIICL, which is domiciled in Bermuda. The outlook of these Credit Ratings (ratings) is stable.

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 ratings also reflect drag from the ultimate parent, Ally Financial Inc. [NYSE: ALLY], a bank holding company headquartered in Detroit, MI. Ally Insurance has a substantial and established presence as a specialized writer of vehicle service contracts, vehicle inventory insurance and guaranteed asset protection. As a result, the group has a concentration of underwriting risk in the auto industry. The positive rating attributes of Ally Insurance are derived from management’s extensive product knowledge and established track record of solid earnings generated from its long-term business. Ally Insurance has generated capital consistently through operating earnings, which is reflective of disciplined underwriting and a steady stream of investment income and realized gains. Management is committed to maintaining the strongest level of risk-adjusted capitalization, which is supportive of its ratings.

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 Guide to 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.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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PUB: 09/25/2020 11:14 AM/DISC: 09/25/2020 11:14 AM

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