Fitch runs Covid-19 ruler over industry

Fitch has conducted a review of insurer ratings in Australia and New Zealand, with respect to the impact of the Covid-19 pandemic.

The review included nine insurers in the two countries.

The Insurer Financial Strength (IFS) ratings on six of the insurers were affirmed with stable outlooks. The IFS ratings on two others were affirmed, but the outlooks were revised to negative from stable. The rating on the last insurer was downgraded and remained on negative outlook.

The rating actions are based on Fitch's assessment of the impact of the coronavirus pandemic under a set of rating assumptions.