S&P ups Assurant to stable

Standard & Poor's said it revised its outlook on Assurant Inc. and on all the firm's strategically important subsidiaries to stable from negative.

At the same time, S&P said it affirmed its BBB long-term counterparty credit rating on Assurant Inc. and its A- counterparty credit and financial strength ratings on the strategically important subsidiaries.

The agency added that it also affirmed its BBB+ counterparty credit and financial strength ratings on non-strategically-important subsidiaries Time Insurance Co. and JohnAlden Life Insurance Co.

The outlook on Assurant remains negative.

"The outlook revision to stable from negative on Assurant and its strategically important subsidiaries reflects its view that Assurant has demonstrated resilient operating performance amid challenging economic conditions," said S&P credit analyst Taoufik Gharib.

"The resolution of the SEC investigation in early 2010 was within its expectations."

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