S&P: Assurant view positive

Standard & Poor's said it revised its outlook on Assurant Inc. and its core insurance affiliates to positive from stable.

At the same time, S&P said it affirmed its BBB long-term counterparty credit rating and senior unsecured debt rating on Assurant Inc. and its A- long-term counterparty credit and insurer financial strength ratings on the core or strategically important subsidiaries. The outlook on the strategically important subsidiaries is stable.

S&P said it also lowered its counterparty credit and financial strength ratings on nonstrategically important subsidiaries Time Insurance Co. and John Alden Life Insurance Co. to BBB from BBB+ and revised the outlook to stable from negative.

In addition, S&P said it affirmed the A-2 short-term counterparty credit and commercial paper ratings on Assurant Inc.

The positive outlook on Assurant Inc. and its core subsidiaries reflects S&P's expectation that Assurant's consolidated earnings will remain strong despite the tepid economic recovery and the resulting modest decline in premiums, above-normal catastrophe losses in 2011, and minimal earnings at Assurant Health, the agency said.

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