2008 economic crisis had minor effect on insurers
July 31, 2013 by Arthur D. Postal
The major impact of the recent financial crisis on insurers was on certain annuity products underwritten by the life insurance industry, according to a Government Accountability Office (GAO) study released today.
The report said that the crisis “generally had a limited effect on the insurance industry and policyholders.”
However, the stock prices—based on an index of 21 life insurers—declined by an aggregate of 79 percent between November 2007 and February 2009, the report said. Click here to read…