Fitch Stabilizes Outlook On Combined
NU Online News Service, May 7, 3:04 p.m. EDT - Fitch Ratings said it has affirmed the financial strength rating of Combined Insurance Company of America at "A-minus" and placed the underwriter's short-term financial strength rating at "F two", one grade below the highest rating of "F one."
New York-based Fitch said it removed both ratings from rating watch negative and added the rating outlook is stable.
Combined is the underwriting arm of Chicago-based insurance broker Aon Corp.
Fitch said despite losses attributable to an "aggressive investment strategy," the company's "financial performance profitability measures still compare very favorably to industry averages."
Fitch said it expects Aon's management to take a more conservative approach to investing, "which should mitigate investment and operating result volatility in the future."
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