AM Best Confirms AMEX Insurance Company Credit Ratings

OLDWICK, NJ–(BUSINESS WIRE)–AM Best affirmed AMEX Assurance Company (AMEX Assurance) (Itasca, IL) financial strength rating of A (Excellent) and issuer long-term credit rating of “a+” (Excellent). AMEX Insurance is a wholly owned subsidiary of American Express Company (American Express) [NYSE: AXP]. The outlook for these Credit Ratings (ratings) is stable.

The ratings reflect the strength of AMEX Assurance’s balance sheet, which AM Best assesses as very strong, as well as its very good operational performance, its neutral business profile and its appropriate management of business risks.

AMEX Assurance’s very strong balance sheet is supported by its highest level risk-adjusted capitalization, as measured by the Best Capital Adequacy Ratio (BCAR), favorable trends in the evolution of losses, a strong liquidity position and strong underwriting leverage measures. However, the growth in surplus was limited as all of the previous year’s net income was returned to its parent company in the form of dividends to shareholders. Operating results compare favorably to the composite average for commercial real estate and benefit from a low operating cost structure. Although AMEX Assurance has a narrow business profile, as it focuses on travel-related and other ancillary products, primarily offered to American Express cardholders, it has an established reputation in the market with a distribution channel solid.

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 relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Assessment Activity Web page. For more information on the use and limitations of credit rating opinions, please see Best Credit Score Guide. For more information on the proper use of Best’s Credit Scores, Best’s Performance Ratings, Best’s Preliminary Credit Ratings, and AM Best’s press releases, please see Guide to Proper Use of Best’s Ratings and Reviews.

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 more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

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