The current crisis in the U.S. subprime mortgage market will have little material impact on most European insurers, according to the latest analysis from Moody's Investors Service London office.
According to Moody's, non-investment-grade subprime exposure represents a negligible proportion of insurers' invested assets.
The rating firm said this lack of exposure is largely a result of the carriers' reduced appetite for high levels of credit risk following turbulence in the equity markets in 2000-2002.
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