Fitch has lowered the forecast of 12 insurance markets
International rating agency “Fitch” has changed the forecast on ratings of 12 insurance and reinsurance markets from stable to negative.
Considerable deterioration of conditions in the international financial market, affected balance indicators and financial flexibility of the insurance companies became the reason of change of the forecast.
So, “Fitch” has changed the forecast from stable to negative on ratings of the markets of life and not-life insurance in France, Japan, Switzerland and the Great Britain, and also ratings of the US and Italian insurance markets. The agency has also changed the forecast ratings of medical insurance market of Germany and ratings of the international reinsurance market.
The agency has left without changes the negative forecast concerning six insurance markets, including the market of life insurance in the USA, the forecast on which has been changed from stable to negative on September, 29th. The negative forecast also remained on the markets of health insurance and title insurance in the USA, life insurance in Germany and Italy.
Fitch’s analysts consider that many insurers will incur substantial damages following the results of the III quarter.