S&P blow for reinsurers
Standard & Poor's has revised its outlook on the global reinsurance industry to negative from stable. The negative outlook implies that downgrades are expected to outnumber upgrades in the remainder of 2005, although the agency predicted that the number of downgrades is expected to be modest.
"The negative outlook reflects the near-term strains on financial strength arising from the impact reported by reinsurers of the most expensive loss event in the industry's history, Hurricane KatrinaOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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