AM Best Information Services

JUNE 13, 2011 12:00 AM (EDT)

A.M. Best Affirms Ratings of Integon National Group's Affiliates

Brian O'Larte
Senior Financial Analyst
(908) 439-2200, ext. 5138

Michelle Baurkot
Assistant Vice President
(908) 439-2200, ext. 5507

Rachelle Morrow
Senior Manager, Public Relations
(908) 439-2200, ext. 5378

Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644


OLDWICK, N.J. - JUNE 13, 2011 12:00 AM (EDT)
A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of "a-" of Integon National Group's 10 pooled affiliated companies, which has as its lead company, Integon National Insurance Company (Winston-Salem, NC). The outlook for all ratings is stable. (See below for a detailed listing of the companies.)

The ratings of the group reflect its solid capitalization, the historically profitable operating performance of GMAC Insurance's personal lines book of business and its well established market presence. Additionally, the ratings acknowledge the operational benefits that the group derives as a quota share partner with AmTrust Financial Services, Inc., Maiden Reinsurance Company and a Bermudian affiliated company.

These positive rating factors are partially offset by the execution risk faced by the group's management in achieving its business plans and the risks inherent in profitably growing business amidst challenging market conditions. Despite these concerns, the outlook recognizes the group's historically strong operating performance and experienced management team. Both the group's ratings and outlook remain largely dependent on management's ability to meet projected underwriting targets while maintaining sufficient capital in each entity to support its business plans.

The FSR of A- (Excellent) and ICR of "a-" have been affirmed for the following 10 pooled affiliated companies of Integon National Group:

- Integon General Insurance Corporation

- National General Insurance Company

- National General Assurance Company

- GMAC Insurance Company Online, Inc.

- MIC General Insurance Corporation

- Integon National Insurance Company

- Integon Preferred Insurance Company

- Integon Indemnity Corporation

- Integon Casualty Insurance Company

- New South Insurance Company

The principal methodology used in determining these ratings is Best's Credit Rating Methodology - Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best's rating process and highlights the different rating criteria employed. Additional key criteria utilized include: "Risk Management and the Rating Process for Insurance Companies"; "Rating Members of Insurance Groups"; "Understanding BCAR for Property/Casualty Insurers"; "A.M Best's Ratings & the Treatment of Debt"; and "Natural Catastrophe Stress Test Methodology." Methodologies can be found at

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.

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