...The dramatic downturn in the U.S. housing market, which has led to significant losses to mortgage-related investments, prompted a financial crisis among major U.S. financial institutions, market illiquidity, a wholesale repricing of credit risk and contagion to other asset classes in 2008. While less exposed to these market issues than many investment banks, commercial banks, or financial guarantors, life insurers experienced a significant deterioration in investment results in 2008, which has negatively impacted industry earnings and capital. Also contributing to this deterioration is the life insurance industry's exposure to equity market performance through the guarantees provided in variable annuity products as well as direct investments. Fitch Ratings' concerns were highlighted in September 2008 when the U.S. life insurance industry rating outlook changed to negative from stable. In addition, other concerns have cropped up since then, including commercial mortgage exposure, financial...
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| Report Type: | Special Report
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| Company(ies): | New York Life Insurance Company, AEGON N.V., TIAA-CREF, Lincoln National Corporation, American International Group, Inc., Genworth Life Insurance Company, ING America Insurance Holdings, Inc., Allianz Cornhill Insurance plc, Sun Life Insurance Company of America, Great-West Lifeco Inc., Metropolitan Life Insurance Company Inc, Northwestern Mutual Life Insurance Company, AXA Corporate Solutions Insurance Company, Hartford Life, Inc., The Prudential Insurance Company of America, Nationwide Life Insurance Company, Manulife Financial Corporation, State Farm Life Insurance Company, Prudential plc, Principal Financial Group Inc
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| Ticker(s): | AMP , GWO , MFC , AIG , AGN , PRU , AFL , PFG , LNC
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| Issuer: | Manulife Financial Corporation
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| Free Sample: |
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| Format: | | PDF |  |
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