Top European Insurers To Undergo Stress Tests In Dec
October 30 2009 - 3:35PM
Dow Jones News
European insurers are to undergo stress tests in December to
help policymakers assess their resilience to shocks and to improve
supervision, the European pensions' regulator said Friday.
The E.U.-wide exercise will focus on market and credit risks and
will test three scenarios: One will be an adverse shock that
reflects the performance of capital markets between end-September
2008 and end-September 2009.
The second will mirror a more prolonged and severe recession,
and the third reflects a situation of inflation picking up rapidly
leading to a steep rise in interest rates, the Committee of
European Insurance and Occupational Pensions Supervisors, or
Ceiops, said on its Web site.
The stress test will include all large and important insurance
groups in Europe, Ceiops said. The Financial Times reported that
Aviva PLC (AV.LN), Allianz SE (AZ) and Axa SA (AXA) would be among
those.
-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241;
marietta.cauchi@dowjones.com
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