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Moody's: Three U.S. life insurers negative
Moody's Investors Service said it affirmed the Aaa insurance financial strength ratings of the following U.S. life insurers and changed their outlooks to negative from stable: New York Life Insurance Co., Northwestern Mutual Life Insurance Co. and Teachers Insurance & Annuity Association of America.
Moody's said the change in outlook is significantly influenced by its view that: (a) The linkages between the credit profiles of these insurers and the U.S. government are very strong; and (b) these insurers lack sufficient diversification or the resiliency to decouple, or absorb the fallout, from systemic risks that affect the U.S. government's creditworthiness and aligns their outlook with the negative outlook on the U.S. government's Aaa rating.
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