Tuesday, March 17, 2009
Life Insurers Lost $32 Billion in Capital in 2008
U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., reported a $32 billion decline in statutory capital in 2008 as investments fell, Moody’s Investors Service said.
Capital and surplus declined 13 percent to $208.6 billion from $240.6 billion, Scott Robinson, a vice president at Moody’s, said in a research note today. Most carriers face “quite limited” options for replacing capital, and some may stop selling certain types of policies to conserve funds, Robinson said, without identifying the firms...
Bloomberg: Life Insurers Lost $32 Billion in Capital in 2008
Capital and surplus declined 13 percent to $208.6 billion from $240.6 billion, Scott Robinson, a vice president at Moody’s, said in a research note today. Most carriers face “quite limited” options for replacing capital, and some may stop selling certain types of policies to conserve funds, Robinson said, without identifying the firms...
Bloomberg: Life Insurers Lost $32 Billion in Capital in 2008
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