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Moody’s has put French non life insurance under negative outlook, a decision it justifies by the deterioration of the non life combined ratio which has come close to 100%.
Insurers’ profitability remains vulnerable in the event of abrupt increase in the loss experience. Stiff competition has left companies with little margin to increase their tariffs sufficiently. The profits reaped by non life insurers remain, therefore, limited, Moody’s added.
The outlook of life insurance is, however, stable as the sector is exhibiting resilience to low interest rates.
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