New regulator announces stress tests for Greek insurers

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The Bank of Greece has announced a series of stress tests for the Greek insurance industry, but a lack of clarity over the extent and purpose of this project has led to confusion within the domestic industry. The Bank of Greece took over regulation of the country's insurance sector following a series of high-profile failures by its predecessor, the Private Insurance Supervisory Committee (PISC), which presided over the failure of 14 insurers in recent years. Another failure by PISC was the lo