14
Nov
Damage Control at Insurance Companies (BusinessWeek Online)
Filed Under (Finance) by on 14-11-2008
BusinessWeek Online - Individual investors aren’t the only ones scared to look at their portfolios. Insurance giants are also watching their holdings wither, a situation that could have serious implications for their customers and the markets. The biggest independent life insurer, MetLife, reported total paper losses of $12.2 billion on its $340 billion portfolio. “You have to plan for things to be depressed for the next few quarters at a minimum,” says Steven A. Kandarian, chief investment officer at MetLife.
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