The ratings of Aon Corp. and its subsidiaries were put on CreditWatch with negative implications by Standard & Poor’s (S&P) on April 20.
The rating action came subsequent to Aon’s announcement that it would be spinning off its underwriting businesses to existing shareholders. Companies affected by the proposed spin-off include Combined Insurance Co. of America, Combined Life Insurance Co. of NY, Virginia Surety Co. Inc., London General Insurance Co. Ltd. and Aon Warranty Group Inc.
S&P expressed concerns that note holders of Aon paper will lose the benefits of diversification and capital support afforded by Aon’s ownership of the insurance operations.
Topics Aon
Was this article valuable?
Here are more articles you may enjoy.
Here’s a List of Gulf Energy Infrastructure Damaged in Iran War 
Trump Approves Disaster Requests for at Least 7 States; Others Wait 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
Albertsons Reaches $774 Million Opioid Accord, Records Loss From This Issue
