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GMAC Insurance Group
| Address: | |
| 200 Renaissance Center | |
| Detroit, MI 48265 | |
| Phone: 800-200-4622 | |
| Website: www.gmacfs.com | |
| Insurance Lines: Auto |
GMAC Insurance Group
Founded in 1939 as a subsidiary of General Motors Acceptance Corporation and America's only provider of automobile insurance who arose from the automotive industry, the GMAC Insurance Company is one of the nation's largest providers of automobile insurance with nearly 2 million vehicles insured. In 2006, a consortium of investors, including Citigroup, the PNC Financial Services Group, Aozora Bank and Cerberus Capital Management, purchased 51 percent of the GMAC Insurance Company from General Motors. GMAC became a "bank holding company" in December 2008 and since has agreed to provide auto financing and other services for Chrysler customers as well as General Motors.
GMAC Insurance Subsidiaries
| Subsidiary | A.M. Best | Equity ($ millions) | Complaint Ratio | I-W Score |
| GMAC Insurance Company Online | A- | 10.03 | 4.38 | 2.8 |
Insurance-Website rating: Based on combination of the A.M. Best rating, equity score and complaint ratio for each subsidiary company. An Insurance-Website rating of 10 is best and 1 is worst.
Equity: Determined by subtracting insurer liabilities from insurer assets as reported to the National Association of Insurance Commissioners for 2008.
A.M. Best rating: Financial strength ratings as of May 2009 with A++ being the best and F the worst.
Complaint Ratio: A score of 1 indicates the national mean with higher scores indicating more complaints and lower scores indicating fewer complaints filed against the insurer during 2008 as reported to the National Association of Insurance Commissioners.