2009-04-30 — bloomberg.com
"The industry has been battered by writedowns linked to the housing slump, and faces more losses as the recession spreads among companies that issued debt. Defaults on corporate bonds are poised for a “significant†increase and may end up costing life insurers more than losses on securities linked to subprime, Alt-A and commercial mortgages, according to a report by Barclays Plc this year."
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