Outbreak to put stress on European insurers' balance sheets
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A report by U.S.-based insurance rating agency A.M. Best Co. Inc. has said that the coronavirus outbreak could put European insurers’ balance sheets under stress, although the biggest impact is likely to come from the ensuing economic fallout rather than from direct exposure to the virus, Asia Insurance Review reports. Even though European insurers remain well capitalized, volatility in the wider financial markets could affect insurers' results and financial strength, the report said.
