Shoes dropping - Insurers?

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Sep 15, 2008 7:53 pm


Re: AIG.  Interesting that it took this long for just about any insurer to be brought low by the credit markets.  I wonder if this is a function of whether their balance sheets are that much better than their banking brethren or are we about to see more to follow.

Sep 15, 2008 9:04 pm
prudent:


Re: AIG.  Interesting that it took this long for just about any insurer to be brought low by the credit markets.  I wonder if this is a function of whether their balance sheets are that much better than their banking brethren or are we about to see more to follow.

 
Just my own personal opinion, but I don't think the insurance companies will have it nearly as bad as the investment banks and select commercial banks.
 
I think insurance companies for the most part did not expose themselves too much to sub-prime (except AIG and maybe a couple others).  They are more conservative by nature.
 
Also, insurance companies are generally very profitable entities. 
 
 
Sep 15, 2008 10:24 pm

I'm just wondering about the AIG fixed annuties.  I, along with the rest of Fleet Bank (now BAC), sold alot of them.

Sep 15, 2008 11:24 pm

Don't worry BACFA, I'm getting most of my heavy fixed clients out of AIG annuities :).  A few of my friends still in the aig valic/retirement world are recommending that their clients transfer out of the fixed into bank CDs.  They also plan to be looking for a different broker soon.  

Sep 16, 2008 6:27 am

hmmmm....that's right Vallic IS an AIG subsidaray!

Me thinks I need too make a few phone calls today to see if some of those retired school teachers are feeling secure with there retirement accounts!