March 23, 2020 / 5:58 PM / 5 days ago

BRIEF-Fitch Says Revises London Market Insurance Sector Outlook To Negative On Covid-19 Concerns

March 23 (Reuters) - Fitch :

* FITCH SAYS REVISES LONDON MARKET INSURANCE SECTOR OUTLOOK TO NEGATIVE ON COVID-19 CONCERNS

* FITCH SAYS SECTOR OUTLOOK REVISION REFLECTS INCREASED CONCERNS OVER COVID-19 DISRUPTION AND RELATED IMPACTS ON CREDIT QUALITY OF LONDON MARKET INSURERS

* FITCH SAYS CURRENTLY IT BELIEVES THAT RATINGS OF LONDON MARKET INSURERS WILL BE LESS AFFECTED BY COVID-19 OUTBREAK THAN THOSE OF EUROPEAN LIFE INSURERS

* FITCH SAYS IT EXPECTS IMPACT ON UNDERWRITING PERFORMANCE OF LONDON MARKET INSURER BOND PORTFOLIOS TO BE MORE LIMITED OVER COVID-19 DISRUPTION

* FITCH SAYS RAPID SPREAD OF COVID-19 COULD INCREASE OPERATIONAL RISKS FOR IMPLEMENTATION OF FUTURE AT LLOYD’S PROJECT Source text for Eikon:

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