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News Focus - Fitch warns of German new business slowdown.
(From Reinsurance)
Fitch Ratings has warned of the consequences of an ongoing reduction in new business of German life insurers. The agency's comments were made during its Credit Outlook 2006 conference, hosted in Frankfurt.
When publishing its sector report on German life insurers in October this year, Fitch had estimated a drop of 65-75% in actual new business for 2005, without any business carried forward from 2004.
After reviewing the third-quarter results, the agency's projections were validated. The situation is ...
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