Fitch reveals UK insurer outlook stable for 2013
Fitch Ratings has maintained its stable outlook on the UK non-life insurance sector but highlighted that fundamental indicators in the sector remain weak and that it did not expect substantial market hardening next year.
According to the ratings agency, its decision to maintain a stable outlook indicates that the vast majority of UK non-life insurers' ratings are likely to be affirmed over the next 12-24 months.
"Key UK non-life insurance market indicators such as investment returns, current-year technical results and levels of reserve surplus remain weak," said Bjorn Norrman, associate director in Fitch's EMEA Insurance rating group.
Fitch added that it expects earnings to remain under pressure for the next 12
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