New accounting rules intended to align U.S. insurers’ varied approaches to accounting for deferred acquisition costs (DAC) will negatively affect insurers’ reported equity and some of the financial metrics that the companies report, but will have no direct effect on …
Until recently, the risk of inflation shocks has not ranked high on the agenda for U.S. property/casualty insurers, Moody’s Investors Service says in a new report, but aggressive monetary policy over the past few years has rekindled concerns about escalating …
The three major credit-rating agencies won the dismissal of a lawsuit alleging that five Ohio pension funds lost hundreds of millions of dollars on risky mortgage debt because they relied on flawed ratings that made the debt appear safe. U.S. …
The personal lines insurance sector maintains a stable outlook in the face of a highly competitive environment, 2011 catastrophe losses and sluggish economic conditions, according to a report from Moody’s Investors Service. “Going forward,” said Assistant Vice President Enrico Leo, …
The man who holds in his hands the fate of U.S. credit, and with it potentially the global economy, favors small tie knots, sports a bushy mustache and smokes his fair share of cigarettes. Beyond that, he is a mystery, …
U.S. property/casualty insurers reported meaningful reserve redundancies in their 2010 earnings, Moody’s Investors Service said, marking the sixth straight year in which the industry has posted a benefit to earnings. During 2010 P/C insurers, excluding financial guarantors and mortgage insurers, …
European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody’s downgrade of Portugal’s debt to “junk” cast new doubt on EU efforts to rescue distressed euro zone states without debt restructuring. European Commission President Jose Manuel Barroso …
The U.S. property/casualty insurance industry, which has about 60 percent of its equity capital base or — $355 billion– in municipal bonds remains exposed to disruptions in this asset class, but the overall level of risk continues to be manageable, …
