Business Services Industry
European credit insurers stable: Moody's.(Industry News)(Brief Article)
Business Insurance, May, 2004
LONDON-Moody's Investors Service Inc.'s stable rating outlook for European credit insurers reflects a stabilizing economic environment along with the active portfolio management of most of the industry's players, the rating agency said in a recent report. High barriers to entering the market and increasing consolidation within the industry also support the good credit ratings of major players in the European credit insurance market, Moody's said.
The industry has shown significant resilience in managing external economic stress in recent years, Moody's said. The rating agency noted that pricing actions and limit reductions-along with insurers' moves to trim portfolios-have reduced the number of insured defaults most European credit insurers have faced in...
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