Moody's: Assurant stable

Moody's Investors Service said it affirmed the Baa2 senior debt ratings of Assurant Inc., affirmed the insurance financial strength ratings of its primary property & casualty insurance subsidiaries at A2 and life insurance subsidiaries at A3, and assigned provisional ratings to the company's multiple security shelf.

In the same action, Moody's changed the outlook for holding company Assurant Inc. and two of the group's life insurance subsidiaries, Union Security Insurance Co. and American Bankers Life Assurance Co. of Florida, to stable from negative.

The agency said it continues to maintain a negative outlook on two health insurance subsidiaries, John Alden Life Insurance Co. and Time Insurance Co., to reflect the higher level of exposure these two units have to negative changes and challenges brought about by healthcare reform.

The outlook on Assurant's property & casualty units remains stable.

"We changed the outlook on Assurant, Inc. to stable to reflect a declining risk that the parent will be negatively impacted by ongoing volatility and uncertainty in the health insurance market as a result of healthcare reform," Moody's analyst Paul Bauer said in a news release.

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