Clifford Chance

Coronavirus and Financial Stability Risks for UK And EU Insurers

25 August 2020

In July, the European Insurance and Occupational Pensions Authority (Eiopa) published its 2020 financial stability report for insurers and occupational pensions schemes in the EU, providing a quantitative and qualitative assessment of potential risks in the sector. While the report acknowledges the industry was well capitalised to manage the initial effects of the coronavirus pandemic as a result of the risk-based approach adopted in the Solvency II regulations, it has identified a number of risks insurers will need to consider as the long-term implications of the pandemic continue to unfold.

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