A.M. Best Places Ratings of Aon Corporation Subsidiaries Under Review with Negative Implications.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength ratings (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) and issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of Aon Corporation's (Aon) (Chicago, IL) [NYSE NYSE See: New York Stock Exchange : AOC AOC, n an acronym for the Aromatherapy Organizations Council. ] life/health subsidiaries, Combined Insurance Company of America (CICA CICA Competition In Contracting Act of 1984 (USA) CICA Canadian Institute of Chartered Accountants CICA Competition In Contracting Act CICA Criminal Injuries Compensation Authority (UK) ) (Glenview, IL), Combined Life Insurance Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (CLICNY) (New York, NY) and Sterling Life Insurance Company (Sterling) (Glenview, IL), under review with negative implications. (See below for a detailed list of the companies and ratings.) These rating actions follow the announcement that Aon is considering "strategic options" for its life/health subsidiaries. The ratings will remain under review pending further discussions with management regarding projected capitalization levels and ownership possibilities. CICA's and CLICNY's current ratings are likely to be downgraded if a spin off occurs, and Sterling's ratings will be dependent on capital support from CICA and CLICNY. However, if an acquisition was to take place, A.M. Best would evaluate the financial strength of the new parent company, as well as CICA's, CLICNY's and Sterling's overall fit within the new organization prior to determining if rating actions would be necessary. The FSR of A (Excellent) and ICRs of "a" have been placed under review with negative implications for the following life/health subsidiaries of Aon Corporation: * Combined Insurance Company of America * Combined Life Insurance Company of New York The FSR of A- (Excellent) and the ICR of "a-" have been placed under review with negative implications for Sterling Life Insurance Company, a subsidiary of Aon Corporation. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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