Very strong business profile. Strong earnings and cash flow profile. Strong liquidity and financial flexibility. Pressured industry risk profile. Aggressive share repurchase activity relative to free cash flow generation. Modest tangible net worth. The ratings on the members of the UnitedHealth Group Inc. (UnitedHealth) reflect the company's very strong business profile, strong earnings and cash flow profile, and strong liquidity and financial flexibility. Offsetting factors include its relatively aggressive share-repurchase strategy, modest tangible net worth, and a pressured industry risk profile. UnitedHealth maintains a very strong competitive position in its core health insurance business, where it competes in all key market segments with insured and service-based product offerings. The company has well-established market positions in the commercial and government-sponsored markets
