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European firms pass sovereign stress test

19 August 2010

European insurers would be able to withstand an external shock derived from a hypothetical Greek sovereign default, including an assumption of ancillary stress for other key euro zone nations, according to a Fitch Ratings sovereign stress test of its rated portfolio of European insurers.

Read more: fitch

European insurers would be able to withstand an external shock derived from a hypothetical Greek sovereign default, including an assumption of ancillary stress for other key euro zone nations, according to a Fitch Ratings sovereign stress test of its rated portfolio of European insurers.

The agency has therefore not taken any rating actions on its European insurance portfolio as a result of this stress test.

As substantial investors in fixed?interest securities and as businesses...


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Quote

If last year was the year of the cat, then this year could be the year of the debt crisis.

Mike Van Slooten, head of international market analysis at Aon Benfield