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FOR IMMEDIATE RELEASE
OLDWICK - MARCH 10, 2017 11:36 AM (EST)
In this A.M.BestTV episode, Greg Carter, A.M. Best managing director, analytics, reviews highlights of a recent report that examines the credit quality of Western European insurers, as well as the interest rate environment and political and regulatory issues that are impacting the sector. Click on http://www.ambest.com/v.asp?v=wetrends317 to view the entire program.
“It has been an unprecedented period of time that Western European insurers and reinsurers have been in this long period of an utlra-low interest rate environment,” said Carter. “And whilst there are some indications, particularly in the United States, that rates may start to rise, I think it is still a long way to go for European interest rates.”
However, Carter said in the past year he has seen that the credit quality of the industry has remained stable. He believes this stability is due to the industry historically having and maintaining a strong capital position. He noted that,” this industry is highly regulated and requires companies to maintain adequate capital.”
He also said he believes that Solvency II requirements have been a principal benefit to the enterprise risk management culture.
Looking to the future, Carter said, “There are no major surprises around the corner that A.M. Best is aware of. Nevertheless, companies are thinking ahead and preparing for challenges, which may arise from political and economic issues.”
To view the Best’s Special Report on Western European insurers and reinsurers, titled, “Western European Insurers Enjoy Stability but Diverse Pressures Persist,” go to http://www3.ambest.com/bestweek/purchase.asp?record_code=258180 .
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