Our ratings on AMP also continue to reflect the group's unique combination of insurance and noninsurance wealth management and banking businesses and its sound financial management. AMP benefits from diverse cash flows available to service the holding company debt and some fungibility of excess capital across the group. Insurer Risk-Based Capital Adequacy Criteria Published, Nov. 15, 2023 Ameriprise Financial Inc., April 21, 2023 Our stable outlook on AMP continues to reflect our expectation that it will continue to post solid profitability and maintain supportive capitalization and good liquidity across the group, with retention of earnings supporting modest balance sheet growth. We could lower the ratings in the next 12-24 months if we expect: A material deterioration in capitalization or profitability;
