Standard & Poor’s Ratings Services said today it will maintain its negative outlook for the global reinsurance sector due to the catastrophic hurricanes of 2005.

“The outlook reflects near-term strains on reinsurers’ financial strength, after 2005 saw the largest catastrophe losses in the industry’s history,” said Standard & Poor’s credit analyst Laline Carvalho. “The outlook also indicates that there will be slightly more downgrades than upgrades among rated entities in the near term.”

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