A.M. Best Withdraws Ratings of Selected Ameriprise Financial Subsidiaries Due to Legal Entity Mergers.OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength ratings (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) and the issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of American Centurion Life Assurance Company (American Centurion) (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY), American Enterprise Life Insurance Company (American Enterprise) (Indianapolis, IN) and American Partners Life Insurance Company (American Partners) (Phoenix, AZ) and assigned them an NR-5 (Not Formally Followed). These companies had been wholly owned, direct or indirect life/health subsidiaries of Ameriprise Financial Ameriprise Financial, Inc. (NYSE: AMP) is a company offering financial advice and products. It is the successor to American Express Financial Advisors (AEFA), which was a subsidiary of the American Express Company. , Inc. (AMP) (NYSE NYSE See: New York Stock Exchange : AMP). Effective January 1, 2007, American Partners and American Enterprise were merged into IDS Life Insurance Company (Minneapolis, MN), and American Centurion was merged into IDS Life Insurance Company of New York (New York, NY). At the same time, AMP received state approvals to revise its charter for IDS Life Insurance Company and IDS Life Insurance Company of New York, renaming the entities RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York, respectively. The FSRs of A+ (Superior) and ICRs of "aa-" of RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York remain unchanged. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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