Post-Virus Outlook Negative For Reinsurance, Moody's Says
Law360, London (September 8, 2020, 3:58 PM BST) -- This year could be another "disappointing" one for reinsurers, Moody's said on Tuesday, despite many companies gearing up for price hikes in the wake of the COVID-19 crisis.
The ratings agency shifted its outlook for the sector from stable to negative, warning that persistently low interest rates could undermine profits.
The warning comes on the day that insurance giant Swiss Re said reinsurers were expecting to put up their prices at the next renewal season on the back of increased demand, a development it said was "positive" for the sector.
Moody's said there were "numerous challenges" that reinsurers faced that would...
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