Insurance Journal: S&P's 2006 Report on European Insurance Highlights a "Good Year"
S&P's 2006 Report on European Insurance Highlights a "Good Year"
In a recently published report Standard & Poor's Ratings Services said it "considers that the insurance sector in Europe has enjoyed a very good year in 2006, aided by the absence of the large losses that characterized 2005. Insurers' strong results have been driven by peak-of-the-cycle underwriting profits in the non-life sector, and solid investment performance. In the life sector, meanwhile, an increase in interest rates has helped to ease pressures over contract guarantees."
S&P noted: "At present, 79 percent of insurance ratings are assigned a stable outlook or developing CreditWatch listing, 16 percent a positive outlook or CreditWatch listing, and just 5 percent a negative outlook or CreditWatch status.
