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Non-Tech : Berkeley Technology Limited (BLKYY) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (942)	7/3/2002 3:42:49 AM
From: Dale Baker	Read Replies (3) \| Respond to of 955

LDP made a basic mistake, they capitalized their life insurance liabilities with less than sound investments. Now they are paying the price. Lots of chatter in European financial circles about banks and life insurance companies here that may not be able to meet their obligations if they are invested too heavily in equities instead of bonds. Same is probably true about many US pension plans. An insurance company should not be set up to depend on a bull market, that's the lesson to take away from LDP. It was a good trading stock in 1999-2000 but reality caught up to them.