AM Best affirms ratings of Ameriprise Captive Insurance Company

AM Best has affirmed the Financial Strength Rating (FSR) of A+ of RiverSource Life Insurance Company and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York.

These companies represent the key life/health (L/H) insurance subsidiaries of Ameriprise Financial, collectively known as Ameriprise Financial Group.

Concurrently, AM Best has affirmed the FSR of A of Ameriprise Captive Insurance Company, a property/casualty subsidiary of Ameriprise.

It said the ratings reflect Ameriprise Financial Group’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).