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November 15, 2002 at 07:00 PM
NU Online News Service, Nov. 15, 9:03 a.m. – Analysts at Moody’s Investors Service, New York, say losses on bonds and related investments and pressures to increase shareholder value could squeeze John Hancock Financial Services Inc., Boston.
Hancock is still one of the strongest, best-known U.S. life insurers, and it ended the third quarter with $4.9 billion in statutory capital. But the Moody’s analysts observe in a report on the company that it suffered $360 million in credit-related investment losses in 2001 and $339 million in credit losses during the first three quarters of 2002. Hancock could suffer $100 million in additional credit losses in the fourth quarter, and 2003 could be as bad as 2002, the analysts write.
