Greek debt exchange won't lead to insurance downgrades, says Fitch

Leading insurers across Europe have been told that manageable exposure to Greek government bonds will mean they will not be downgraded if they accept the EU's offer of a 50% haircut in return for new debt, according to Fitch Rating.

With the exception of some French life insurance companies, who have significant exposure to southern European government bonds, the ratings agency says it expects reduced profits as a consequence of