ELNY earnings charges expected to hit Q2 statements
July 9, 2013 by Elizabeth Festa
Liquidation appears underway; American Equity reports first
Executive Life Insurance Company of New York (ELNY) earnings assessments are now beginning as the controversial court-approved liquidation plan for the insolvent New York State insurer kicks into gear after two decades of decline in rehabilitation.
Charges will be showing up in earnings reports for some public companies for the second quarter SEC reports.
American Equity Investment Life Holding Co., (AEL), an underwriter of index and fixed rate annuities, is one of the first life companies out of the gate to announce charges to earnings in the second quarter due to assessments from state guaranty fund associations stemming from the insolvency of ELNY. Click here to read…