Greek exit could drive further insurer downgrades
Future ratings action on Italian and Spanish insurers is more likely to be driven by the macro-economic environment and sovereign rating than the idiosyncratic credit fundamentals of a particular insurer, Fitch said today.
The statement will dismay Italian and Spanish insurers, many of which already feel they have suffered downgrades unduly as a result of flailing sovereigns.
Italian and Spanish insurers are most
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