Protectionist policies against foreign reinsurers by jurisdictions can create concentration risks in their economies and restrict the development of their reinsurance markets, according to Insurance Europe, the European insurance and reinsurance federation.
In an insight briefing published today, Insurance Europe outlined several examples of where jurisdictions are adopting protectionist measures to limit the involvement of foreign reinsurers in their domestic markets
The insurance market is likely to see an accelerated trend towards investing in infrastructure debt, syndicated loans and private placements, Lloyds Bank Commercial Banking managing director Bill Cooper has said
"No real single market exists" for insurers in the EU and therefore any reliance on passporting rights are "exaggerated", Open Europe has said
German politicians have slammed talk of changing the ultimate forward rate insurers use to value long-term liabilities under Solvency II as "premature"
Britain’s financial services ecosystem will be severely damaged if Brexit is mishandled, Lloyd’s of London chairman John Nelson has said
The solvency ratio of the Finnish life insurance sector was 173 per cent and that of the non-life insurance sector 220 per cent as at 30 June, latest figures from the Financial Supervisory Authority have shown