International Flavors & Fragrances Inc
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Materials : Chemicals | Mid Cap Blend
Company profile

International Flavors & Fragrances Inc. provides products that consumers taste, smell, or touch. It operates through three segments: Taste, Frutarom and Scent. Taste is comprised of Flavor Compounds which are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products. Frutarom segment creates and manufactures a naturals-focused suite of flavor compounds, functional foods and specialty fine ingredients. Scent segment is comprised of Fragrance Compounds, which are used by its customers in two broad categories: Fine Fragrances and Consumer Fragrances; Fragrance Ingredients, which consists of synthetic and natural ingredients that can be combined with other materials to create fragrance and consumer compounds; and Cosmetic Active Ingredients, consisting of active and functional ingredients, botanicals and delivery systems.

Closing Price
$102.66
Day's Change
-0.26 (-0.25%)
Bid
--
Ask
--
B/A Size
--
Day's High
103.35
Day's Low
101.41
Volume
(Average)
Volume:
1,564,092

10-day average volume:
1,554,239
1,564,092

AM Best Affirms Credit Ratings of AMEX Assurance Company

2:47 pm ET September 1, 2020 (BusinessWire) Print

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" of AMEX Assurance Company (AMEX Assurance) (Itasca, IL). AMEX Assurance is a wholly owned subsidiary of American Express Company (American Express) [NYSE: AXP]. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect AMEX Assurance's balance sheet strength, which AM Best categorizes as very strong, as well as its very strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

AMEX Assurance's very strong balance sheet strength reflects its risk-adjusted capitalization at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), conservative loss reserving practices and favorable development trends, as well as strong liquidity and underwriting leverage measures. Partially offsetting these factors is the constrained surplus growth resulting from the practice of returning the prior year's net income to its parent in the form of stockholder dividends.

Operating results have outperformed the commercial casualty composite by a wide margin historically. In addition, AMEX Assurance has a favorable underwriting expense structure due to its low cost direct marketing distribution platform. Although AMEX Assurance's business profile has a narrow scope as its emphasis is on travel-related and other ancillary products offered to American Express card members, it has an established reputation in the market with a strong distribution channel. The company's ERM program includes oversight by the board of directors and comprehensive reinsurance protection.

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 www.ambest.com.

Copyright (C) 2020 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/20200901006001/en/

SOURCE: AM Best

Janet Hernandez 
Senior Financial Analyst 
+1 908 439 2200, ext. 5767 
janet.hernandez@ambest.com


Christopher Sharkey 
Manager, Public Relations 
+1 908 439 2200, ext. 5159 
christopher.sharkey@ambest.com


Michele Baurkot 
Director 
+1 908 439 2200, ext. 5314 
michelle.baurkot@ambest.com


Jim Peavy 
Director, Public Relations 
+1 908 439 2200, ext. 5644 
james.peavy@ambest.com
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