Fitch says insurers to cope with Greek debt

Credit rating agency Fitch has said insurers will not be hit by the Greek debt swap as they have already written down their holdings in anticipation of the deal and would be able to cope with further losses on Greek sovereign bonds.

The company said that insurers it rates hold Greek bonds at around 20% to 25% of their historical/amortised cost and would be unlikely to incur further losses from the debt swap, which was widely