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Non-Tech : CJ
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To: 249443 who started this subject10/22/2002 8:35:48 AM
From: 249443   of 307
 
Heard on the Street: Insurance

http ://online.wsj.com/article/0,,SB1035238606126134791,00.html?mod=COLUMN

Insurers Still Keep a Veil
On Their Stock Exposure

Guarantees on Annuties Remain
Big Question in Investors' Minds
By CHRISTOPHER OSTER
Staff Reporter of THE WALL STREET JOURNAL

Are life insurers ready to pull back the curtain and give investors a look at their mounting stock-market exposures?

During the past few months, it has been worry No. 1 for those who invest in the sector: How much money do the insurers need to set aside to pay for guarantees they made on variable annuities linked to stock-market returns? Speculation about how big the hits are going to be have grown to fever pitch since Cigna Corp. announced last month that it was taking a $720 million charge related to such so-called guaranteed-minimum death benefits.
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