Long known for its resilience, especially through the recent financial crisis, the reinsurance industry is about to experience a new competitive landscape that will lead to pressure on earnings, notes international rating firm Fitch Inc.
Yet, the report, “Global Reinsurance Review and Outlook,” says the key challenges facing reinsurers are unlikely to impede the stability of earnings and current strong levels of capitalization for the majority of reinsurers over the next 12-24 months. Accordingly, subject to normal catastrophe experience, Fitch’s rating outlook for the global reinsurance industry remains stable.
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