Shoes dropping - Insurers?
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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.
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.
I’m just wondering about the AIG fixed annuties. I, along with the rest of Fleet Bank (now BAC), sold alot of them.
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.
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!