Insurers could withstand Greek and Italian default, says Fitch Ratings

Insurers could withstand Greek and Italian default, says Fitch Ratings

European Union flags

European insurers could withstand a Greek and Italian sovereign debt default without widespread rating downgrades, according to rating agency Fitch Ratings.

As world leaders battle to put together a plan to save the eurozone from collapse, Fitch says insurers’ exposure to Greek and Italian debt is limited, and mainly confined to domestic insurers.

Federico Faccio, an analyst at Fitch in London, says: “With Greek debt in particular, the exposure has been reduced at industry level. There are some

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