Moody's Investors Service lowered its outlook on U.S. life insurers to negative from stable, saying it expects interest rates to remain in the low single digits for the next few years, depressing companies' earnings
"We believe that low rates, along with below-trend economic growth and prolonged volatility in the equity markets, will continue to erode insurers' earnings and revenues, gradually weakening their financial flexibility," Moody's Vice President Laura Bazer said
Spread compression is expected to continue to depress profits from spread business, like fixed annuities and universal life, and from long-tailed products, such as long-term care and long-term disability income, Ms. Bazer said
Moody's added that high unemployment, weak consumer confidence and fiscal tightening will constrain life insurers' top and bottom line growth
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Billie, with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
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