Industry | 2012.06.29
Fitch: Bermuda (Re)Insurers Weather Sovereign Downgrade
NEW YORK--(BUSINESS WIRE)--While insurance industry concerns factored into Tuesday\'s downgrade of Bermuda, Fitch Ratings does not expect Bermuda (re)insurers to be affected, as all our ratings of Bermuda (re)insurers remain below the new sovereign rating, which also has a Stable Rating Outlook. The country ceiling remains at \'AAA.\' In addition, a majority of the assets and liabilities of Bermuda (re)insurers are diversified globally, and thus we do not have concerns regarding a concentration of
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