More and more insurance companies getting rating cuts. Rating agency always report that these insurance companies are heavily vested in the stock market/bonds using the premiums they received. Insurance companies are like mini-banks that has the authority to receive annual premiums to take on risks such as death, accidents, etc,and having the law of probability on their side can make them very rich. Even Warren Buffet started his empire through an insurance company, Geico. ( The Talking Green Lizard)
Insurance companies are the next group to get knock up HARD!!
But GE is still UP UP UP!! The irrational market called Wall Street.
Stocks slip after economic data, GE rating cut
Stocks slip as jobless claims rise, retail sales dip, and General Electric gets rating cut
NEW YORK (AP) -- Stocks declined in early trading Thursday after mixed economic data and a cut in General Electric Co.'s credit rating.
Standard & Poor's said it is lowering GE's top rating one notch because of problems at the conglomerate's lending arm. GE -- the oldest component in the Dow Jones industrials -- was one of only six companies that had a "AAA" rating from S&P.
Doomsday Signs
When Insurance Companies Shows that they really need your money!!
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