EU Insurance Risk Declining But Could Still Face Cliff Edge
Law360, London (February 9, 2021, 1:17 PM GMT) -- Europe's insurance watchdog said on Tuesday that the sector's exposure to systemic threats fell in the third quarter of 2020 but warned that new lockdown measures mean insurers could soon face a jump in credit risk.
The European Insurance and Occupational Pensions Authority said it found in its regular risk assessment check that exposure to macroeconomic risks among insurers dropped from "very high" to "high" in the third quarter of the year. But the bloc's regulators expect an increase in credit risks, market risks and underwriting risks over the next twelve months.
EIOPA said this reflects "concerns over second lockdowns due...
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