A top rating agency today issued an optimistic note about the life insurance/life reinsurance industry, stating that it is strong and solvent. Moody’s stated its capital and liquidity stress test showed that even in a worsening market that could result in further downgrades, insurers are likely to retain investment grade ratings, reports the Wall Street Journal (WSJ).
According to Dow Jones Newswires, Moody’s said that life insurers “are considered to be fit enough to weather the financial and economic crisis because of their solid balance sheets,” proven by Moody’s own stress test that shows insurers are most likely to retain investment grade ratings.
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