S&P: Insurers Weathering Capital Losses
NU Online News Service, Oct. 9, 4:11 p.m. EST? Insurers and reinsurers' credit strength in the global market over the past three years has proved largely resilient despite a net reduction in capital of about $170 billion, Standard & Poor's in London said today.
"The drain on capital in the market, due to underwriting losses, significant claims activity arising from the Sept. 11 terrorist attacks, and the poorly performing investment markets has now reached the $200 billion mark," said an S&P credit analyst, Rob Jones.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
