Anybody else think there are substantial writedowns and capital raises on the horizon for the major insurers? CDS spreads have widened quite a bit. . . I’m on the sidelines for the foreseeable future.
I’m guessing but the remaining insurers didnt dabble too much in derivatives. The ones that did, US monolines and AIG , have already been in the news. I think the rest are all standard insurers where the damage is done by catastrophy or big hurricances.