US insurance holding Conseco...
... has posted a 2008 net loss of $1.13bn against a year-earlier loss of $194m, reflecting a near-seven-fold rise in losses from discontinued operations to $722.7m and a rise in net realized investment losses to $262.4m from $158m. Insurance policy income grew 12% to $3.25bn. The Indiana-based group said that worries over a default had faded with the renegotiation of its $911.8m credit facility that eases pressure from creditors. However, the amended deal now carriers a cash interest rate of 7.5% instead of 2.6%.
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