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BestWeek: Life, Annuity Companies Face Challenges as Government Intervention Looms, Special Report Says
OLDWICK, N.J.-(Business Wire)-October 3, 2008 - U.S. life and annuity companies face an increasingly complex macroeconomic climate, with negative operating and net income trends and continuing adverse capital market conditions through third quarter 2008, according to a new special report featured in BestWeek U.S./Canada.
Amid failing financial institutions and impending U.S. government intervention, financial flexibility remains diminished. Significant realizable capital erosion remains a major risk, both from a ratings and an operating perspective.
| Â | Â | Â | Â | Â | Also, in BestWeek U.S./Canada: |
| Coverage of the American International Group, Inc. asset sale. | |||||
| Also, in BestWeek Europe: | |||||
| —Non-life insurance premiums are flat or declining while claims costs are escalating in Western Europe's major markets, according to a new A.M. Best special report. Meanwhile, life insurers' growth is threatened by turmoil in the credit and equity markets; and | |||||
| —The ongoing credit crisis that has gripped Washington and Wall Street and nearly destroyed American International Group Inc. is gaining ground in Europe. | |||||
| And in both editions of BestWeek: | |||||
| 10 of the 15 A.M. Best Insurance Stock Indices finished down at the end of third quarter 2008. |
BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, please call A.M. Best’s customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
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