A recent report by Standard & Poor’s (“S&P”) noted that the number of U.S. insurers placed under regulatory supervision in 2007 was the lowest in a decade.  The report attributes a decrease in insolvencies among property casualty insurers to, among other things, a mild hurricane season combined with better underwriting and an improved premium rate environment.  S&P forecasted a stable outlook in the P&C sector for 2008, though noting that it expects net premiums to decline modestly after an extremely profitable 2007.  As for the life and health insurance sectors, the report notes a slight upswing in the amount insolvencies, as three health insurers (as opposed to one in 2006) and three life insurers (as opposed to two in 2006) became insolvent.  Nonetheless, S&P forecasts a stable outlook in both the life and health sectors, noting that life insurers will continue to be influenced by low interest rates, product and portfolio exposure to equity markets and modest demand.  As for health insurers, the report notes that the outcome of the 2008 elections and potential reforms being discussed in that industry could significantly impact both profitability this coming year and cause companies to significantly alter their business models.