Allianz CRO: industry and regulators ‘in denial’ over solvency levels
Insurers' heads are in the sand regarding the impact of current market turmoil on their Solvency II-consistent balance sheets, says Tom Wilson
European life insurers and their regulators are “in denial” over the impact of current market turmoil on firms’ Solvency II-consistent balance sheets, according to Tom Wilson, chief risk officer of Allianz. They would be facing 2008-style hits if not for the use of a liquidity premium in discount rates, which is reducing liability values.
Speaking on the sidelines of Life & Pension Risk’s Solvency II conference in London, Wilson said market volatility witnessed over the past couple of months has
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