As investors wallowed in the depths of financial markets despair at the start of 2009, few would have predicted the speed and size of the bounce in equities that began in mid-March and continued to the point where major indices have recovered to levels higher than a year ago.
While the sustainability of the recovery in equity and, to a lesser extent, credit markets is open to question, the impact on the health of balance sheets in the (re)insurance industry...
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