Moody's affirms Assurant

Moody's Investors Service said it has affirmed the Baa1 senior debt rating of Assurant, Inc. and the A2 insurance financial strength ratings of the lead operating subsidiaries of both Assurant's Property and Casualty Group and its Life and Health Group.

The outlook for the ratings was changed to stable from negative.

Moody's added that the affirmation of the ratings and change to a stable outlook reflect Assurant's continued strong operating performance in spite of a difficult economic environment and turmoil in the capital markets.

While the SEC investigation related to a specific catastrophe reinsurance contract remains outstanding, operational and Leadership uncertainty has been reduced with the appointment of a permanent CFO earlier this month, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.