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.

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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.

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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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Fitch also noted a lack of any additional broker market turmoilin the wake of regulators actions over improper fee activity.

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The rating firm said Aon has also been able to retain clientsand grow new business, and has benefited from restructuring itsdebt.

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