NEW YORK (Reuters) - Credit default swaps on insurance companies Metlife Inc (MET.N: ) and Hartford Financial Services Group (HIG.N: ) began trading on an upfront basis again on Thursday, indicating increasing concerns over their credit quality. The cost to insure Metlife's debt rose to around 10.5 percent the sum insured as an upfront sum, or $1.05 million to insure $10 million in debt for five years, in addition to annual premiums of 5 percent, according to Markit Intraday. The swaps had closed on Wednesday at a spread of around 717 basis points, or $717,00 per year for five years to insure $10 million in debt, according to Markit. Hartford's swaps jumped to an upfront cost of...
[read full story]
Your Web Site
