American insurers will be forced to tap investors to provide a $5bn (£3.1bn) provision for asbestos claims. That's the stark warning from Fitch ratings.

Keith Buckley, head of Fitch Ratings North American Group, said the industry may succumb to pressure to strengthen its finances for asbestos exposures and put aside capital over the coming months.

Buckley said: "I wouldn't be shocked for there to be upwards of $5bn in asbestos reserves in the next few quarters."

He added that some insurers do not have the muscle to take these charges without affecting their capital base. He suggested that some may be forced to raise capital to fill their balance sheets.

"Some would need to raise capital to fund these charges," Buckley told Reuters.

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