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Thursday, February 21, 2008

Fitch: Losses May Reach $8 Billion for Life Insurers

by Calculated Risk on 2/21/2008 03:09:00 PM

From the WSJ: Fitch: Unrealized Subprime Losses For Insurers May Reach $8 Billion

Fitch Ratings said U.S. life insurers have an estimated $7 billion to $8 billion in unrealized losses on subprime and Alt-A investments.

The credit rater said that amount totals 13% of exposure and 3% of total industry capital. Fitch expects the industry to have recorded losses of $2 billion to $3 billion in the fourth quarter.
Just a few billion more here and a few billion more there ... the losses keep adding up.