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Financial Planning > Behavioral Finance

MONY Unaffected By Terror Attacks

By Staff Writer

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NU Online News Service, Sept. 18, 9:45 a.m. –The MONY Group, New York, says it does not expect last Tuesday’s terrorist attacks on the World Trade Center to have a direct material impact on its overall financial strength.

In an internal review, the company concludes it can continue to have more than adequate liquidity to meet its obligations, fund its operations and continue its current share buy back program. The impact of the terrorist attacks, adds the company, will not have a direct material affect on the company’s financial strength or liquidity.

The review included: the individual and corporate-owned life insurance coverage the company provides to customers; the mortgages, common stocks, loans and debt instruments in its investment portfolio; and the obligations on and financial condition of firms through whom the company reinsures business.