Following a review under our revised insurance criteria, we are affirming our ratings on UnitedHealth Group and its core subsidiaries. Our ratings on UnitedHealth Group predominantly reflect its very strong business risk profile as the leader in its market, and its strong financial risk profile. The rating on the holding company is two notches lower than the ratings on the operating companies (three notches is standard for U.S. insurance holding companies), reflecting its diverse sources of earnings and liquidity. The stable outlook reflects our expectation that the company will not meaningfully alter its financial-management policies and will preserve its generally strong market share in its core market segments. On June 17, 2013, Standard&Poor's Ratings Services affirmed its 'A/Stable/A-1'
