The sector outlooks for most life insurance markets are worsening, reflecting the higher risk of fallout from the coronavirus pandemic in 2021, as the effects of defaults, write-downs and even lower interest rates take greater hold, Fitch Ratings has said.
In some markets, this also reflects the impact of economic pressures on premium revenues and asset quality.
The outlooks for non-life are varied, reflecting the positive impact of normalising claim levels and further rate increases in several key lines in 2021 as well as the negative impact of economic pressures on premium revenues and asset quality.