Moody's Investors Service has confirmed that its rating outlook for US commercial insurers is still negative.
Moody's said that overall it expects there to be more rating downgrades than upgrades during 2002. However, it added that it did not expect much rating activity during the year.
Senior credit officer William Wilt commented: "We think that the risks from the past still outweigh the favourable trends that are well underway in the industry."
The commercial industry outlook has been negative for several years.
