Thursday, November 13, 2008
Life Insurers Facing Cuts in Ratings
Life insurance companies, hobbled by real estate investments and committed to paying some costly retirement contracts, face more cuts in their credit ratings before the year is up and have little choice but to seek capital in unforgiving markets.
Companies have until Friday to apply for federal help under the Troubled Asset Relief Program, or TARP, but only about half of the life insurance industry will even be allowed to apply. The Treasury has said life insurers must be affiliated with banks or thrifts that are regulated at the federal level.
Life Insurers Facing Cuts in Ratings
Source: NY Times
Companies have until Friday to apply for federal help under the Troubled Asset Relief Program, or TARP, but only about half of the life insurance industry will even be allowed to apply. The Treasury has said life insurers must be affiliated with banks or thrifts that are regulated at the federal level.
Life Insurers Facing Cuts in Ratings
Source: NY Times
Permalink posted by armandn @ 11:49 AM 
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