European capital stabilises, claims new AM Best report

Europe's reinsurers have seen their financial strength stabilise after a two-year period of downward pressure, according to a new report from AM Best.The rating agency said that strong accident year results were maintained through the first quarter of 2004 and are expected to persist through the year. Combined with a partial restoration of capital levels, this has helped support the current ratings.Accident year results reflect the ongoing hard market (albeit with property now softening some