Two rating firms announced yesterday that their analysis found the U.S. deterioration of subprime mortgage values will have minimal impact on insurers and reinsurers.
Standard & Poor's Ratings Services in New York said it made the finding after surveying all of the insurance and reinsurance companies it rates on their exposure to mortgage-related instruments.
Meanwhile, Fitch Ratings in Chicago said the U.S. property-casualty insurance industry's risk from various subprime mortgage exposures is minimal based on its analysis of statutory filings for the entire industry and generally approved accounting procedure statements for the largest public companies.
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