NU Online News Service, July 22, 3:18 p.m. EDT
Recent concerns over public entities' credit quality is not expected to materially impact U.S. property and casualty insurers' capital position, despite the insurers' heavy investments in municipal bonds, Fitch said.
But the New York-based rating agency said the financial crisis has shown that concentrations even in previously-perceived low risk activities may be riskier than they appear. "When exposures are large, these risks are magnified," Fitch said.
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