A.M. Best Removes Ratings of GMAC Insurance Group and Its

Members from under Review; Assigns Negative Outlook 
OLDWICK, N.J.--(BUSINESS WIRE)--July 25, 2008
A.M. Best Co. has removed from under review with negative
implications and affirmed the financial strength rating (FSR) of A-(Excellent) and issuer credit ratings (ICR) of "a-"of GMAC Insurance
Group (GMACI) and its sixteen members, which are led by Motors
Insurance Corporation (Southfield, MI). The outlook assigned to the
ratings is negative. (See below for a detailed listing of the
companies and ratings.) 
The ratings, which were placed under review on February 27, 2008,
reflected A.M. Best's heightened concerns regarding the financial
pressures experienced by GMACI's ultimate parent, GMAC LLC (GMAC). On
April 8, 2008, A.M. Best retained the under review status based on
GMAC's announced restructuring plan. (Please see press releases of
February 27, 2008 and April 8, 2008 at www.ambest.com.) The plan
contemplated a dividend by GMAC of 100% of the voting interest of
GMACI Holdings LLC (GMACIH), the holding company for the insurance
operations, to the current holders of GMAC's common membership equity,
which includes FIM Holdings LLC (controlled by Cerberus FIM Investors,
LLC) and subsidiaries of General Motors Corporation. However, GMAC
would continue to hold 100% of the economic interests in GMACIH. 
The rating affirmations are based on the completed restructuring
of the voting interest of GMACIH and the implementation of new
corporate governance structures. As a result, A.M. Best believes that
the previous financial pressures exerted on GMACI from GMAC's
continuing corporate credit issues, have been alleviated. 
In addition, the rating affirmations are based on GMACI's
maintenance of excellent risk-adjusted capitalization; consistently
solid operating results; a well-established market presence as one of
the top 35 property/casualty insurers in the United States; and its
leading position as a provider of vehicle service contracts. 
The FSR of A- (Excellent) and ICRs of "a-" have been affirmed for
GMAC Insurance Group and its following property/casualty members: 
--  Motors Insurance Corporation 
--  CIM Insurance Corporation 
--  GMAC Direct Insurance Company 
--  GMAC Insurance Company Online, Inc. 
--  Integon Casualty Insurance Company 
--  Integon General Insurance Corporation 
--  Integon Indemnity Corporation 
--  Integon National Insurance Company 
--  Integon Preferred Insurance Company 
--  Integon Specialty Insurance Company 
--  MEEMIC Insurance Company 
--  MIC General Insurance Corporation 
--  MIC Property and Casualty Insurance Corporation 
--  National General Assurance Company 
--  National General Insurance Company 
--  New South Insurance Company 
The ICR of "bbb-" has been withdrawn from GMAC Insurance Holdings,
Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals
and health care system providers. For more information, visit
A.M. Best Co.
Michael Venezia, 908-439-2200, ext. 5034
Jeffrey Mango, CPA, 908-439-2200, ext. 5204
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
Rachelle Morrow, 908-439-2200, ext. 5378
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