Despite a 9% increase in the profits of life insurers in the first nine months of 2007 (the most recent full set of available data), the industry now faces challenges from recessionary pressures.
Through Sept. 30, 2007, life insurers -- including annuities, life insurance, disability insurance, long-term care insurance, and health insurance -- earned $30.2 billion, up from $27.7 billion for the same period in 2006.
TheStreet.com Ratings recently released its updated financial-strength ratings based on third-quarter 2007 data. Fourteen ratings were downgraded and 103 were upgraded.
TheStreet.com Ratings' conservative approach includes evaluating insurers' ability to withstand an economic adversity and a sharp increase in claims. This is because an insurer must be able to honor its policy commitments in bad times as well as good. ...
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