NU Online News Service Aug. 25, 3:31 p.m. EDT
European insurers' exposure to certain heavily indebted countries within the eurozone is not expected to weigh down those insurers' credit profiles, Moody's Investors Service said in a Special Comment.
"Crucially, whilst gross eurozone sovereign debt exposures remain significant for many European insurers, the insurance sector's net exposures--after policyholder participations, tax and minority interests--remains manageable, particularly given the general ability of insurers to hold assets to maturity," said David Masters, a Moody's analyst and author of the report.
In the report, Moody's also said it does not expect European insurers to be forced to crystallize the current levels of loss-to-par suggested by the market value of some of these assets, due to European insurers' continued strong liquidity.
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