S&P affirms Unitrin

Standard & Poor's said that it affirmed the BBB- counterparty credit rating on Unitrin Inc., the A- counterparty credit and financial strength ratings on Unitrin's property and casualty subsidiaries and the A counterparty credit and financial strength ratings on Unitrin's life subsidiaries.

The outlooks are stable.

The affirmation followed the company's announcement of losses related to the April storms and first-quarter results, the agency said.

For the first quarter of 2011, Unitrin's overall results were strong, with a return on revenue of around 11.6%, the agency added. Strong performance in the group's life insurance segment and investment income bolstered results but deteriorated results in the property and casualty segment offset these gains somewhat.

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