American Express Co
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Financials : Consumer Finance | Large Cap Blend
Company profile

American Express Company is a globally integrated payments company. The Company provides its customers with access to products, insights, and experiences that builds business. It operates under four segments: U.S. Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), and Global Merchant and Network Services (GMNS). USCS offers travel and lifestyle services as well as banking and non-card financing products. CS offers payment and expense management, banking and non-card financing products. CS also issues corporate cards and provides services to select global corporate clients. ICS also provides services to international customers, including travel and lifestyle services, and manages certain international joint ventures and its loyalty coalition businesses. GMNS provides multi-channel marketing programs and capabilities, services and data analytics. It provides credit and charge cards to consumers, small businesses, mid-sized companies and corporations.

Closing Price
$150.87
Day's Change
-3.28 (-2.13%)
Bid
--
Ask
--
B/A Size
--
Day's High
153.78
Day's Low
150.37
Volume
(Light)
Volume:
1,783,271

10-day average volume:
2,392,425
1,783,271

AM Best Affirms Credit Ratings of AMEX Assurance Company

1:06 pm ET September 16, 2022 (BusinessWire) Print

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) 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 assesses as very strong, as well as its very strong operating performance, neutral business profile and appropriate enterprise risk management.

AMEX Assurance's very strong balance sheet strength is supported by its risk-adjusted capitalization at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), favorable loss development trends, strong liquidity position and sound underwriting leverage measures. However, surplus growth has been constrained as all of the prior year's net income has been returned to its parent in the form of stockholder dividends. Operating results compare favorably with the commercial property composite average and benefit from a low expense cost structure. Although AMEX Assurance has a narrow business profile as its emphasis is on travel-related and other ancillary products, mostly offered to American Express card members, it has an established reputation in the market with a strong distribution channel.

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 use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright (C) 2022 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/20220916005473/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

Brian O'Larte 
Director 
+1 908 439 2200, ext. 5138 
brian.o'larte@ambest.com

Jeff Mango 
Managing Director, 
Strategy & Communications
+1 908 439 2200, ext. 5204 
jeffrey.mango@ambest.com
comtex tracking

COMTEX_414595152/1006/2022-09-16T13:06:00

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