The counterparty credit rating on UnitedHealth Group Inc. (UnitedHealth) is based on its very strong business position, good diversification, differentiated positioning, extremely strong earnings profile, very strong financial flexibility, and good statutory capitalization. Very strong business position. UnitedHealth is the largest health insurer and managed care organization in the U.S., providing services and benefits to more than 17 million members. The organization had good commercial enrollment growth of 5% year-to-date through June 30, 2002. Uniprise members (primarily non-risk) grew 8% year-to-date, and UnitedHealthcare's commercial fee-based membership grew 12% year-to-date through June 30, 2002, which combined are 66% of total membership. Good diversification. UnitedHealth operates 25 organized health plans and four insurance companies in nearly 50 domestic and international markets, serving
