NU Online News Service, July 10, 10:33 a.m. – Bond defaults and corporate scandals are starting to cause headaches for life insurance company chief financial officers.
Two-thirds of the 46 CFOs who participated in a recent informal survey by Tillinghast-Towers Perrin, New York, reported that their companies’ asset portfolios had suffered “moderate to significant defaults” in recent months, and more than one-third said that they were facing greater scrutiny of financial reporting practices, risk management practices and investment strategies.