Ratings Recap: Assurant

Standard & Poor’s Ratings Services said today that it revised its outlook on American Bankers Insurance Co. of FL, American Security Insurance Co., and American Bankers Life Assurance Co. of FL (collectively referred to as Assurant Solutions and Special Property – ASSP) to stable from positive. S&P affirmed its “A-” counterparty credit and financial strength ratings on ASSP, and further said that the “action does not affect the ratings on the holding company, Assurant Inc., or its other operating companies.” S&P credit analyst Shellie Stoddard explained that the “outlook revision follows Assurant’s disclosure that two individuals from the units each received a ‘Wells notice’ from the SEC related to an ongoing investigation of certain loss-mitigation insurance products” (See related article).