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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
April 07, 2003 at 08:00 PM
NU Online News Service, April 7, 2003, 5:14 p.m. EDT – Most U.S. life insurers are still “highly creditworthy,” but many are carrying substantial amounts of “unrecognized credit losses” on their balance sheets, according to a new report on life insurance company investments from Moody’s Investors Service, New York.
Low interest rates and weak stock markets are squeezing life insurers’ portfolios hard, and 2002 credit losses were even worse than 2001 credit losses, Moody’s analysts write.
Life insurers have already started to recognize big credit losses on investments in collateralized debt obligations and other structured securities, but Moody’s analysts warn that insurers may continue to report big credit losses, even after the economy recovers, because of the strategies they have been using to put off recognizing losses.
“Moody’s believes that certain insurers have attempted to obfuscate their actual credit losses by a variety of means, including focusing on operating earnings that exclude credit losses, realizing equity gains when available and, worst of all, using interest-related gains on bonds to help offset these credit losses,” Robert Riegel, a Moody’s managing director, says in a statement about the life investment report.
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