News | November 4, 2008

Fitch Issues Report On Property/Casualty Insurance Asset Risk

NEW YORK--(BUSINESS WIRE)--Economic turmoil has deeply affected investment markets in 2008. While the U.S. property/casualty insurance industry was less affected by troubles in the subprime mortgage market, more recent volatility in equities, corporate bonds and tax-exempt securities are all having a significant effect on the industry's financial position as evidenced by larger reported investment losses for the third quarter of 2008.

In a new Special Report, Fitch examines investment risk exposures for the U.S. property/casualty insurance industry, discussing risks related to the market's asset portfolio allocation, the potential capital impact from recent losses in various asset classes, and investment positions that may elicit concern going forward.

As life insurers have faced greater asset losses in the current market, the report also considers differences in asset characteristics for life insurers and property/casualty insurers that help explain this variation in investment performance.

To access this Special report, 'Property/Casualty Insurer Asset Risk: Investment Loss Concerns Growing' please visit under Financial Institutions then Insurance then Special Reports.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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