Fitch Ratings has revised the Aon Corp. Rating Outlook to stablefrom negative and affirmed the financial strength rating of thefirm's insurance subsidiary Combined Insurance Company of Americaat "A-minus." The outlook for the insurer was revised from negativeto positive.
Fitch said it believes Aon's year-to-date financial results aresupportive of the current ratings, despite the permanent loss ofcontingent commission revenue and a softening rate environment thathas moderated after this year's insurer hurricane losses.
It also credited the firm with developing a new business modelthat is less reliant on contingent commission income, improvedfinancial flexibility and positive financial trends.
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