Ratings Recap: Hartford; Aon

A.M. Best Co. has upgraded the ICR to “a” from “a-“, the senior debt ratings to “a” from “a-” and the commercial paper rating to AMB-1 from AMB-2 of The Hartford Financial Services Group, Inc. Best also affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit ratings (ICR) of “aa-” of the Hartford Insurance Pool and its P/C members. The outlook for all ratings is stable. “The rating upgrades for The Hartford represent the use of extraordinary notching as the overall enterprise benefits from the diversification of its equally important and diverse property/casualty and life operations, which both provide strong, sustainable earnings and cash flows,” Best explained. For a complete listing of The Hartford Financial Services Group, Inc.’s FSRs, ICR and debt ratings, go to: www.ambest.com/press/062504hartfordpc.pdf.

Fitch Ratings has affirmed Aon Corporation’s (Aon) issuer default rating (IDR) at “BBB+” and related senior debt ratings, as well as the commercial paper rating at ‘F2’. The ratings outlook is stable. Fitch also noted that it has “upgraded to ‘A’ from ‘A-‘ the insurer financial strength (IFS) rating of Aon’s lead accident and health operating company, Combined Insurance Company of America (CICA), and CICA’s New York-domiciled subsidiary, Combined Life Insurance Company of New York (CLIC).”