Insurers most insulated against eurozone default

Map of Europe in CRN blue

The accountants stated that in between the first warning signs of solvency problems in Greece, Ireland and Portugal and the first indication of a default triggered by Greece, most insurers and reinsurers substantially reduced their exposure to eurozone-periphery sovereign debt.

They concluded that the moves made had insulated the sector against the impact of a potential default.

The analysis was revealed in the autumn 2011 edition of the E&Y eurozone outlook for financial services forecast.

Mari

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