Fitch Ratings assigned a stable outlook to the Bermuda market this week, marking the first time the rating agency has assigned a rating outlook to the segment, a member of the firm said yesterday.
James Auden, managing director of Fitch's North American insurance group in Chicago, said the stable outlook indicates the rating actions on Bermuda companies are expected to consist predominately of affirmations over the next 12-18 months.
In addition, upgrade and downgrade actions are likely to approximate each other, said Mr. Auden, who was speaking on a conference call to explain the findings contained in his firm's just-released report on the Bermuda Market.
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