Reinsurance maintains firm global stance, says agency

The outlook for the global reinsurance sector remains stable, according to Fitch Ratings. The global ratings agency said current ratings would be supported, despite the deterioration in the operating performances and capitalisation of individual companies, and the anticipated market conditions as long as there was no major catastrophic event. Mark E. Rouck, senior director of the Insurance Rating Group at Fitch, said: "While underwriting margins are likely to continue to erode over the near-term, unless there is a major catastrophe, the sector will continue to generate reasonable return...