Fitch Ratings warned today it is likely to reduce the ratings of European and U.S. insurers and global reinsurers because the global financial meltdown will soon force them to write down the value of their investments.

The firm said this action is likely for 12 insurance and reinsurance sectors globally, including the health, property-casualty, life and title insurance sectors in the U.S., as well as the property-casualty and life sectors for France, Germany, Italy, Switzerland and the United Kingdom.

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