The main risks for the insurance industry
The European insurance regulator EIOPA has published a report on the financial stability of the insurance and pension sector for June 2024.
The European Insurance and Occupational Pensions Authority (EIOPA) has presented an overview of key developments and risks in the insurance and occupational pensions sectors in Europe.
As the online resource of Ukrstrahuvanny found out, the key risk for the sector remains a complex macroeconomic background, characterized by high geopolitical tensions, a series of elections in major economies, uncertainty regarding economic prospects and weakening support for globalization and international cooperation.
Other sector risks include extreme weather and catastrophic events, risks related to digitalization and cyber insurance.
Petra Hilkema, Chair of EIOPA, said: “Amid growing uncertainty and skepticism about the future of international cooperation, EIOPA remains steadfast in its mission to ensure financial stability in Europe’s insurance and pension markets.”