Insurers less exposed than banks to potential Greek euro exit

Insurance companies are less exposed than banks to contagion risk triggered by a Greek exit from the Eurozone because of an ability to share losses with policyholders and a lower reliance on short-term funding, according to Fitch.

However, banks' resilience is enhanced by benefiting from any potential EU policy response and European Central Bank action, the ratings agency believes.

All Eurozone sovereign ratings would be placed