Fitch Ratings said an examination of property-casualty companies' exposure to subprime mortgage collateral found manageable impact on stockholders' equity.
The New York-based rating firm said a Special Report analyzed full-year 2007 GAAP financial results for publicly traded U.S. property-casualty insurers in an effort to quantify exposure to, and credit quality of mortgage-backed securities with subprime and Alt-A collateral.
It also looked at exposure to, and underlying credit quality of municipal bonds insured by financial guarantors; and the likely surge in claims under directors and officers (D&O) liability and errors and omissions (E&O) business lines due to subprime mortgage-related issues.
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