NU Online News Service, Feb. 15, 2:24 p.m.EST
|Moody's Investors Service says its Moody's Global Insurance CDS(credit default swap) Index shows that although investors' view ofglobal insurers for the most part improved during the 2011 fourthquarter, opinions are still more negative than indicated by Moody'sratings.
|In a report on investor sentiment concerning global insurers,Moody's Investors Service says the ongoing uncertainty stemmingfrom the European sovereign crisis continues to affect Europe-basedinsurers, which ranked at the bottom of Moody's insurance universein terms of negative-ratings gap.
|“The median ratings gap of the companies in the index improvedslightly, to negative-2.2 notches at the end of the fourth quarterfrom negative-2.3 notches at the end of the third quarter with theCDS markets continuing to have a more negative view of theinsurance sector than our ratings indicate,” says Senior VicePresident and co-author of the report Scott Robinson in astatement.
|While the median gap for European insurers deteriorated, the gapfor other insurers held steady or narrowed. European insurersandU.S.life insurers had the widest median ratingsgaps.U.S.property and casualty insurers had the narrowest gappartly because the hurricane season's end was uneventful, easingmarket uncertainty, Moody's suggests.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
