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UK life insurer increases reserves against corporate defaults

Tuesday, February 17, 2009

UK life insurance company Legal & General said today it has increased its reserves against corporate defaults by £650 million

Comment by: Anonymous. Posted 15 years ago [2009-02-18 15:03:54]

I understand that they have over £1bn of CDOs - you would think that the m-t-m loss on that alone is over £500m! Good to see that the world is catching up with the insurance companies - I found the CEO's statements of how they had come up with the numbers very scary and uninformed - seemed to be a strong reliance on ratings for a start!

CLOs

Middle market portfolios aren't immune to rate stress, according to new research 17 hours ago
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Another 2016 vintage CLO gets reset as Octagon stays busy 17 hours ago
Neuberger Berman resets 2016 vintage for second time 17 hours ago
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