Capital levels hold up despite euro crisis as insurers de-risk

Capital levels hold up despite euro crisis as insurers de-risk

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Insurers’ regulatory capital levels have remained broadly stable despite the recent turmoil in the eurozone. But analysts have warned that current solvency measures do not reflect the true economic position.

The third-quarter results showed capital levels under Solvency I had, in many cases, changed very little and, in some cases, even increased over the past three months.

Axa’s solvency ratio rose to 190% at the end of the third quarter compared with 186% at the end of June 2011. Allianz, Europ