Monte Carlo: Lloyd's could suffer downgrade blow
Ten insurance and reinsurance groups, including Lloyd's, Swiss Re and Ace European Group have been placed on creditwatch with negative implications by Standard & Poors. The decision was made late last Friday night because of their 'exposure to the catestrophic and unparalleled losses stemming from Hurricane Katrina'
S&P, which estimates the total market loss to Katrina at $50bn, said in a statement: 'We have evalutated personal lines, commercial lines and reinsurance companies, as well as bond insurers andOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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