London, 18 September 2013 -- The majority of the largest Moody's-rated European insurers have reduced their financial leverage over the last five years and adopted a more conservative attitude towards capital management, says Moody's Investors Service in a new Special Comment published today. This deleveraging trend for the industry is set to continue in the coming quarters with many insurers willing to use part of their excess cash to reduce their outstanding debt rather than returning it to shareholders.
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