oh jeez - life insurance next to explode

[ensho]

http://www.latimes.com/news/la-na-aig30-2009mar30,0,4637747.story?track=ntothtml



AIG crisis could be the tip of an insurance iceberg

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.


-snip-

But as the economic crisis deepens, it has become clear that AIG's problems extend across most of its business lines, including its massive life insurance and retirement services operations, which reported a staggering $18-billion quarterly loss this month.

-snip-

So far, some of the biggest companies have suffered sharp drops in their stock prices, and many of them are asking for federal assistance

-snip-

Other insurers are now asking the federal government for bailout packages, arguing that AIG has an unfair competitive advantage.
-long snip-
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another article I read this a.m. said if too many people cashed in their life ins. policys at once it would create a huge problem.

[CrispyQ]

1. We are like a piece of rotten fruit, collapsing in upon itself. --nt