Moody's downgrades reinsurance outlook

Moody's has downgraded the outlook assigned to the reinsurance sector from stable to negative.

The rating agency notes that a number of factors are simultaneously putting pressure on reinsurers namely: "oversupply of capacity, new entrants in the form of non-traditional capital, low interest rates, and greater bargaining power of buyers."

As a reminder, Standard & Poor's and Fitch have adopted a similar outlook, earlier this year.