Fitch gloomy about Bermuda
Fitch Ratings stated in a Special Report today that its Rating Outlook for the Bermuda (re)insurance market remains 'Negative reflecting uncertainty tied to the continued highly volatile investment markets and a more severe economic recession than those experienced in past business cycles.
Fitch expects downward rating activity globally and across all of its insurance ratings in 2009, Bermuda market (re)insurers are less likely to face widespread rating downgrades than otherOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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