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European results suggest positive news for UK life insurance sector

Date: Wed, 04 May 2005

The outlook for the German life insurance market has moved from negative to stable, according to Standard & Poor's Ratings Services.

The results could signify a change for the rest of Europe's insurance sector. Although, the life insurance market is expected to remain challenging, improved efficiency is helping a slow recovery of the industry.

"The outlook revision on the German life insurance sector is based on the expectation of a continued gradual recovery in the industry's profitability, supported by the de-risking of balance sheets, cost-cutting initiatives, and a growing focus on economic returns," said Standard & Poor's credit analyst Karin Clemens.

The study expects the underlying positive trend to continue and is predicting a rise in profits for the German insurance market.

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