HVRRF - Global Reinsurance U.S. P&C Outlooks Negative On Coronavirus: Fitch
Underlining the magnitude of the challenge that the Covid-19 coronavirus poses to the re/insurance industry, Fitch Ratings has revised its outlooks for the global reinsurance market and U.S. Property & Casualty insurance to negative.
The fundamentals or sector outlook for the reinsurance market and U.S. P&C insurers have both been revised to negative from stable by the rating agency, which is down to "increased concerns over COVID-19, the disease caused by the coronavirus."
For the reinsurance industry Fitch fears "impacts on the credit quality of reinsurers."
For the U.S. P&C insurance market Fitch cites expected