UK - Financial volatility could hit insurers’ half-year results
Saturday, 06 25 2016, Category: Insurance and Reinsurance, Country: United Kingdom
The volatility triggered in the financial markets since the revelation that the UK will leave the EU could have a material impact on insurers’ half-year results and balance sheets, rating agency AM Best has claimed.
The rating agency said it does not expect to take rating actions in the near term as a direct consequence of the decision by UK voters to leave the EU, however.
“The implications for the financial strength of insurers with regard to subsequent investment market volatility, currency fluctuations and increased economic uncertainty will be closely monitored,” it said.
Source: Intelligent Insurer