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No joint default analysis for insurance companies, says Moody's

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Moody's imminent new methodology for assessing all major forms of external support for banks - including government or systemic support - would typically not apply to insurance companies, says the rating agency in a report published in February."Systemic or government support in banking usually reflects the willingness of a central bank to extend emergency liquidity support to a troubled regulated bank, support not as likely to be forthcoming to a failing insurer", says Jose Morago, Moody's