S&P upgrades Hartford Life

S&P said it raised the issuer credit and financial strength ratings of Hartford Life & Accident to A+ from A.

The agency also affirmed Hartford Financial Services Group's BBB+ long-term issuer credit and A+ long-term issuer credit and financial strength ratings.

The ratings reflect the group's enhanced strength of its business position from key operations, including the recent and pending acquisitions and prospective view of very strong capital and earnings.

Hartford Life & Accident is considered core to Hartford Financial Services, S&P said.

The upgrade reflects the improved view of the group life and group benefits business, which are considered core to Hartford under the group rating methodology criteria, S&P said.

Hartford Life's operations support Hartford's multi-segment strategy and competitive position as the second-largest competitor in the group benefits market, following its acquisition of Aetna's group benefit business, the agency said.

The stable outlook is based on our expectations that Hartford will maintain stable underwriting results and very strong capital.

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