Insurers that invest heavily in common equities and write long-tailed lines of insurance might see their capital charges increase in an updated capital model announced by Standard & Poor's.
However, the capital model is only one element of the rating, S&P analysts stressed during a recent conference call intended to fill in details behind a report released to insurers.
"The capital model itself does not define a rating," said Grace Osborne, managing director of North American insurance ratings for S&P.
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