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Under The Covers

机译:掩护之下

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Insurers are following a plot with an ending that may seem grimly inevitable. Their shares have sunk on worries that losses on their investments will leave them insolvent. Regulators and executives have tried to reassure investors, but been met with dark mutterings about insurers' reluctance to mark assets fully to market and their habit of inflating their capital with hybrid debt rather than plain equity. Some insurers' credit-default swaps, which measure the risk of bankruptcy, have soared to scary levels (see chart).rnPessimists argue that the final act-state bail-outs-has now begun. In the Netherlands both ing and Aegon have received capital injections from the government. America's life-insurance companies, a couple of which have already raised capital, are lobbying to be included in the Treasury's $250 billion programme to purchase stakes in financial firms.
机译:保险公司遵循的情节似乎似乎是不可避免的。他们的股票陷入了担忧,担心他们的投资损失将使他们无力偿债。监管机构和高管们曾试图让投资者放心,但对保险公司不愿将资产完全标记到市场上,以及他们习惯于用混合债务而非普通股本来充实资本的习惯,暗暗抱怨。一些衡量破产风险的保险公司的信用违约掉期已飙升至令人恐惧的水平(见图表)。悲观主义者认为,最终的行为国家纾困已经开始。在荷兰,ING和Aegon都从政府那里获得了注资。美国的人寿保险公司中的一些已经筹集了资金,正在游说将其纳入美国财政部2500亿美元的计划中,以购买金融公司的股份。

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    《The economist》 |2008年第8604期|92|共1页
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