Aspen interest rate impact may spread across P&C group

Aspen's declaration today that a jump in interest rates
during the fourth quarter will knock about $190mn off the value of
its investment portfolio led at least one analyst to say that
assessments of mark-to-market adjustments for many carriers may
have been a little too optimistic.
Keefe, Bruyette & Woods analyst Meyer Shields predicted a
decline in many publicly traded property and casualty insurers
today as investors absorb the implications of Aspen's
announcement, included with a warning