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EIOPA launches 2024 Insurance Stress Test exercise

Written by Adam Cadle
02/04/2024

EIOPA has today launched its 2024 Insurance Stress Test exercise in which it is probing European insurers’ resilience to re-intensification or prolongation of geopolitical tensions and its wide-ranging economic and financial market consequences.

The sample of the stress test will include 48 undertakings from 20 member states and cover over 75% of the EEA market in terms of total assets.

Furthermore, the 2024 Stress Test exercise assesses the resilience of the European insurance industry from two distinct perspectives: a capital assessment, which relies on the Solvency II framework; and a liquidity assessment, based on estimations regarding the sustainability of undertakings' liquidity positions. Insurance undertakings participating in the stress test are requested to estimate their position under two assumptions: fixed balance sheet, where only embedded management actions are allowed; and constrained balance sheet, where a set of identified reactive management actions are allowed.

The findings will allow EIOPA to make recommendations to the industry and enable supervisors to discuss with insurance undertakings remedial actions as necessary in order to improve their resilience. The results will be published in December.


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