AM Best Affirms Ratings for UnitedHealth Group Amid Improved Earnings
Rating agency AM Best has reaffirmed its ratings for UnitedHealth Group and its subsidiaries, citing strong balance sheet strength and operating performance. The company's health insurance subsidiary, UnitedHealthcare, saw a 19% increase in consolidated operating earnings during the first half of 2026.
The improved earnings were driven by strategic market exits, benefit redesign, pricing discipline, and medical cost management actions taken by UnitedHealthcare. The company has also shifted its focus from rapid membership expansion to operational discipline and margin recovery.
UnitedHealth Group's financial leverage remains elevated but has improved during 2026, with debt-to-capital declining to approximately 41.3% at June 30, 2026, from approximately 43.7% at year-end 2025.