Dutch insurers tackle regulator on solvency impact of France downgrade
Drop in ECB AAA curve will also affect German insurers’ guarantees reserves
Dutch insurers are in talks with regulators about their options to soften the impact on their solvency levels of France's downgrade.
France was stripped of its AAA status by rating agency Fitch on July 12, taking it out of the European Central Bank (ECB) AAA curve used by many insurers in the Netherlands to discount their liabilities.
Since the downgrade, the ECB AAA curve has dropped, increasing the discounted present value of Dutch insurers' liabilities. The par curve fell 15 basis points at
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