U.K. Insurance Market stable despite softening cycle, says report
In its latest review of the U.K.insurance market ("Insurance Industry Risk Analysis: U.K. Economic Risk Increases But Unlikely To Put Pressure On Non-Life Ratings") Standard & Poor's Ratings Services says that despite the strength of results and ratings, the increased risk of recession is a concern for the sector.
The support insurance companies have enjoyed from the steady growth of the economy in recent years is set to come under increased pressure as a result of the credit crunch. This comes at a time when the sector also faces softening market conditions and reduced underwriting margins.
"Standard & Poor's has stated that the U.K. economy is one of the most exposed in Europe to recession risks and this, combined with predictions from the Bank of England that growth is likely to shudder to a halt in
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