NU Online News Service, Nov. 5, 11:46 a.m. – Standard & Poor’s, New York, says weak European life insurers may have trouble borrowing cash over the next few weeks to compensate for problems with their stock holdings.
Few European life insurers face many claims from the Sept. 11 attacks, but “a number” are suffering from the effects of the attacks on the prices of the stocks in their investment portfolios, according to a commentary by David Anthony, an S&P financial services ratings analyst in London.
Life insurers can borrow cash to beef up their capital levels by “selling” notes, bonds and other debt securities.