Insurers insulated from debt crisis
European (re)insurers are among the best placed companies in the financial services industry to withstand potential sovereign defaults within the Eurozone, a report from consultancy firm Ernst & Young says.
Most European (re)insurers have cut back their exposure to peripheral sovereign debt within the Eurozone since the first signs of trouble in countries such as Greece and Portugal, which will insulate the sector from the impact of a default, the report said.
Furthermore, insurers were not major providers of credit...
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