Surviving the euro storm

The crisis in the euro area has forced Europe’s insurers to reconsider their exposure to the less salubrious sovereign debt of southern Europe. Blake Evans-Pritchard reports on how they have been de-risking

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It seems that almost every day brings fresh news of the impending collapse of the European Union’s (EU’s) single currency. While few in the insurance industry think a total collapse of the euro is likely, they are almost unanimous in their belief that the years ahead are going to be tinged with high volatility.

The past couple of years of uncertainty within Europe’s so-called peripheral economies – Greece being of particular concern – has