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S&P might lower Kanawha
S&P said it placed the BB+ ratings on Kanawha Insurance Co. on CreditWatch with negative implications.
The agency said the placement follows Humana Inc.'s announcement that it has reached a definitive agreement to sell the stock of KMG America Corp. to Continental General Insurance Co.
The transaction will be funded by a capital contribution of about $200 million by Humana, in addition to the transfer of roughly $150 million in statutory capital from Kanawha.
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