Combined Insurance Company of America (CICA), purchased by Ace Ltd. this year, has been upgraded by Moody's Investors Service.

Moody's said it upgraded CICA's long-term insurance financial strength (IFS) rating to 'A2' from 'A3', after Ace Ltd. completed the acquisition of CICA and some of its subsidiaries from Aon Corp. The outlook on the rating is stable. Moody's said the upgrade is based on its expectations that CICA will receive from Ace, in terms of both implied and actual support by way of affiliated reinsurance, and on the closer strategic alignment of CICA's businesses with those of Ace, which is the parent of Ace Bermuda Insurance Ltd.

US-based CICA primarily offers low-cost, modest-benefit supplemental accident, disability, health and life insurance.