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European insurers must rebuild capital: E&Y
19 February 2010
As the world economy recovers, European insurers need to rebuild capital, reassess risk management, integrate changing regulations and aggressively seize opportunities for growth, both through acquisition and new product development in 2010, according to a report from Ernst & Young.
As the world economy recovers, European insurers need to rebuild capital, reassess risk management, integrate changing regulations and aggressively seize opportunities for growth, both through acquisition and new product development in 2010, according to a report from Ernst & Young.
Despite weathering the financial crisis better than their banks, many European insurers were shaken by investment losses and capital constraints. Ernst & Young’s Global Insurance Center predicts European insurers will be challenged to rebuild capital while seeking growth opportunities.
The changing accounting and regulatory environment and the Solvency II directive will particularly present challenges for both the general and the life-and-pensions sectors.
“While insurers hope that they are through the worst of the crisis, the industry will be working hard to reassess and test the destruction to its risk management plans,” said Lex Van Overmeire, Ernst & Young’s insurance...
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