Parmalat

[Jack]

http://www.nypost.com/seven/01092004/business/15262.htm

Friday's Post had an article listing losses suffered by companies with holdings in Parmalat. Not included in the link is a table which was in the hard copy version of the Post.

Amazingly the Alaska Carpenters Fund lost $1B.

Several Ins. Co including AIG and John Hancock lost hundreds of millions. The article didn't indicate whether or not these holdings were in the general account.

If so, the RBC C-1 concentration factors for these ins. cos. must have been huge.

[Paddyboy1]

That article doesn't mention AIG.

[SamChevre]

http://www.nypost.com/seven/01092004/business/15262.htm

Friday's Post had an article listing losses suffered by companies with holdings in Parmalat. Not included in the link is a table which was in the hard copy version of the Post.

Amazingly the Alaska Carpenters Fund lost $1B.

Several Ins. Co including AIG and John Hancock lost hundreds of millions. The article didn't indicate whether or not these holdings were in the general account.

If so, the RBC C-1 concentration factors for these ins. cos. must have been huge.

Not necessarily. For a company of that size, the general account is in the hundreds of billions--$500 million in exposure to one bond issuer is still well under 0.5% of assets.

[Colymbosathon ecplecticos]

Jack wrote:Amazingly the Alaska Carpenters Fund lost $1B.

Since there are only 2,000 members, that truly would be amazing.