NU Online News Service, Jan. 14, 3:02 p.m. EST
NEW YORK—If there is any segment of the property and casualty insurance industry to worry about when it comes to investments in municipal bonds, it would be small regional companies, an industry analyst said recently.
Speaking at the P/C Insurance Joint Industry Forum here on Monday, V.J. Dowling, managing partner for Dowling & Partners, an institutional investment firm in Hartford, Conn., said that while municipal bonds represent a high percentage of invested assets of p&c insurers, he evaluates an individual insurer’s exposure to the recessionary problems of state and local governments based on a firm’s investment acumen and strategy rather than the size of its muni-portfolio.
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