4 unchanged sentences
Credit risk is the potential loss resulting from adverse changes in an issuer’s ability to repay its debt obligations.
−Removed: General concern exists about a number of issuers experiencing financial difficulties as a result of the impact of the COVID-19 pandemic.
In general, we manage the exposure to credit risk in our investment portfolio by investing in high quality securities and by diversifying our holdings.
3 unchanged sentences
Our fixed maturity portfolio has an average rating by at least one nationally recognized rating organization of “AA−,” with approximately 74.9% rated “A−” or better.
−Removed: At June 30, 2020, none of our fixed maturity portfolio was unrated or rated below investment grade.
+Added: At September 30, 2020, 0.2% of our fixed maturity portfolio was unrated or rated below investment grade.
Our fixed maturity portfolio includes some securities issued with financial guaranty insurance.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.