S&P: Competition Hurts German P-C Insurers
NU Online News Service, Aug. 20, 3:30 p.m. EST?Standard & Poor's Ratings Services said today that it is maintaining a negative outlook on the German property-casualty sector, but that flood claims in Europe are not the cause of the rating agency's concern.
The negative outlook mainly reflects concerns over the sustainability of rate increases in the German motor market and a weakening of investment returns in global and domestic equity markets, S&P said.
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