2nd COVID-19 Wave Could Erode Insurer Capital, S&P Warns
Law360, London (July 14, 2020, 4:43 PM BST) -- A second wave of COVID-19 later in the year, coupled with another government lockdown, could further erode the capital buffers that insurers are required to maintain to help them withstand financial stress, a Standard & Poor's study suggests.
The ratings agency said in a report released on Monday that insurers have remained resilient during the current pandemic, but warned that could change if infection rates soar again toward the end of the year.
S&P has downgraded 40% of its corporate and government clients, but just 9% of the insurers for which it provides financial strength ratings. The ratings company said the biggest...
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