ROUNDUP / stress test: Europe’s insurers would withstand a longer corona crisis

Thursday, 12/16/2021 7:39 PM from


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FRANKFURT (dpa-AFX) – According to an investigation by their supervisory authority, European insurers would also withstand an extended corona crisis. In this year’s stress test, no insurance group’s obligations to customers were in jeopardy, the European insurance regulator Eiopa announced on Thursday evening in Frankfurt. According to Eiopa President Petra Hielkema, parts of the industry continue to depend heavily on the transitional regulations, thanks to which they do not have to fully meet the financial requirements of the “Solvency II” regulations, which have been in force since 2016, until 2032.

For this year’s stress test, Eiopa examined 43 insurance groups and a single insurer based on the balance sheets from the end of 2020. According to the authority, the companies represent around 75 percent of the insurance market in the European Economic Area – i.e. the European Union, plus Switzerland, Norway, Iceland and Liechtenstein. From Germany were the Allianz (Allianz share) , the reinsurer Munich Re (Munich Re share) , the HDI (Talanx ), R + V Versicherung and Alte Leipziger-Hallesche.

The German financial supervisory authority Bafin sees German companies in a comparatively good position in the stress test. “The decline in the solvency ratios would be manageable for the German participants,” said the Bafin executive director responsible for the insurance industry, Frank Grund. However, the low interest rates remained a challenge for the industry. “We will continue to keep a close eye on the situation of life insurers in particular,” announced Grund.


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