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E&Y says insurers are best insulated against Euro debt default worries

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Ernst & Young has said insurers and reinsurers are best insulated against Eurozone sovereign debt default worries.

E&Y warned that without a seven-fold increase in the €440bn of resources available to the Eurozone Financial Stability, Eurozone GDP could fall by up to 2% in 2012 and a further 1% in 2013. It warns

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