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October 20, 2003 at 08:00 PM
NU Online News Service, Oct. 20, 2003, 6:45 p.m. EDT – Bond-related losses at the U.S. life insurers rated by Moody’s Investors Service, New York, amounted to $15.4 billion, or 7.26% of statutory capital, in 2002, up from $8.9 billion, or 4.22% of statutory capital, in 2001.
When Moody’s analysts looked at the insurers that ranked in the bottom 25% in terms of bond losses as a percentage of statutory capital, it found that losses at those companies amounted to at least 6.94% of capital in 2001 and at least 11% of capital in 2002.
Losses at the worst-rated insurers reached 27.18% of statutory capital in 2001 and 46.58% of statutory capital in 2002.
A four-analyst team in New York compiled the report, which includes appendices that show bond gains and bond losses as a percentage of invested assets and statutory capital for all Moody’s rated insurers.
