(NU Property Casualty 360) - While U.S. insurers only have less than $2 billion in bonds that are exposed as a result of the Russian invasion of Ukraine, AM Best reported the industry’s indirect exposures might be more substantial.
The largest exposure at any company, according to AM Best, is less than 2% of capital and surplus, with a majority of the bonds being rated investment grade NAIC-2.
“Indirect investments through suppliers and customers of U.S. and European companies may still be impacted, similarly to the already substantial impact on commodity and energy markets,” Jason Hopper, associate director, industry research and analytics, AM Best, said in a release.
For more of this article go to: https://www.propertycasualty360.com/2022/03/08/how-the-invasion-of-ukraine-effects-the-u-s-insurance-industry/
By Steve Hallo and FC&S Editors
March 08, 2022
