The economic malaise and mounting catastrophe losses will continue to depress the insurance industry, a new report from Standard & Poor's Ratings Services says.
The report, "Fewer Downgrades Expected For North American Insurance Holding Companies, But Negative Outlook Remains," notes that the company’s outlook on the sector has been negative since the onset of the financial crisis. As the economic downturn lingers and investment income falters, the industry will continue to struggle, S&P says.
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