Share buybacks and improving enterprise risk management are among the factors boding well for the European insurance sector in recent months, according to Standard & Poor's.
The New York-based rating firm said these factors combined with several solid underwriting years, healthier balance sheets and robust 2006 results, provided the springboard for a number of positive ratings actions and outlook changes in the sector.
"The year 2007 could bring more positive outlook revisions if insurers are able to demonstrate that favorable earnings trends are sustainable through the cycle," said S&P credit analyst Simon Marshall.
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