A.M. Best announced yesterday that it has changed the rating outlook of the global reinsurance sector to "stable" from "negative," reversing the dim view it has held for an extended period.
The negative outlook assigned nearly two years ago implied that rating downgrades would outpace upgrades.
The revised outlook of stable instead means that the Oldwick, N.J.-based rating firm believes the majority of 2007 rating actions will be affirmations of existing ratings with stable outlooks, and that only a modest amount of outlook changes for individual reinsurers are anticipated.
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