NU Online News Service, March 18, 2003, 5:04 p.m. EST – The 181 U.S. life insurers that Moody’s Investors Service tracks ended the third quarter of 2002 with 5.8% less statutory capital than they had a year earlier, according to a new report from the rating agency’s New York office.
Lower-rated life insurers did worse than higher-rated life insurers, and 19 insurers suffered drops of 25% or more, Moody’s says.