NU Online News Service, Aug. 3, 2:09 p.m. EDT
Captives are “starting to feel the squeeze” of market conditions, low-investment yields, and issues in the global-financial markets, according to A.M. Best, which reports that a composite of 209 captives it follows reported a decline in net income for 2011.
A.M. Best says the group of captives saw net income fall to a combined $2.01 billion, down 21 percent compared to 2010. The ratings agency blames decreases in underwriting income, net investment income and realized capital gains.
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