Moody’s Investors Service has increased the ratings of a large financial services company and most of its insurance subsidiaries 1 notch.
Moody’s, New York, is changing the unsecured debt rating of Assurant Inc., New York, to Baa1, from Baa2.
Assurant is getting a higher rating because it has done well since it separated from Fortis, Brussels, in February 2004, Moody’s says.
Moody’s has increased the insurance financial strength ratings of several Assurant insurance units to A2, from A3.
Units with higher insurance financial strength ratings include American Bankers Insurance Company of Florida, Time Insurance Company, and John Alden Life Insurance Company.