No widespread downgrades of US life/P&C insurers - Moody's
Moody's has said that there won’t be a widespread downgrades of US life and property & casualty insurers despite various companies reporting “meaningful” increases in both realized and unrealized losses in their fixed income investments in the first quarter of 2008 due to significant widening of credit spreads across most asset classes.
Jeffrey Berg, a senior vice-president at Moody’s said: “Given the well-diversified and high-quality investment portfolios and very strong financial profile of the insurance sectors in terms of
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