Downgrades set to outnumber upgrades at beginning of 2003, rating
The year 2003 is set to be another tough one for insurers, according to Chris Waterman, director at ...
The year 2003 is set to be another tough one for insurers, accordingto Chris Waterman, director at Fitch rating agency.
Mr Waterman gave a talk on reinsurance at Fitch's European insurance
roadshow in London and stated that downgrades will outnumber upgrades over
the near term.
Mr Waterman predicted that the hard market will continue for the next 12
to 18 months, with no increase in reinsurance capacity on the horizon.
He also warned the insurance industry to prepare for the next swing in the
cycle
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