Friday, October 31, 2008

Previous statement

This is regarding Hartford on 10/09/08:

On Wednesday, Eric Berg of Barclays Capital said reiterated his view that the steep drop in life insurers' share prices over the past two weeks does not point to a looming solvency problem in the industry. "Rather," Berg said, "we continue to believe that the stocks are reacting to a subtle but unmistakable message from the major rating agencies: Several of the life insurers must raise capital now to avoid being downgraded later as a result of investment losses."

Posted by Reggie Abaca, at 11:52 AM