Risk Quantum/Legal & General
UK life insurers pass BoE stress test with 64% hit to surplus capital
Sector deemed resilient, but plausibility of some management actions questioned
Top European insurers bet on private equity
Allianz and Axa had a combined €29 billion at end-2019
Sliding rates dent Legal & General’s capital ratio
Solvency capital requirement rises to £8.2 billion from £7.9 billion over first half of 2019
L&G’s counterparty risk charge almost doubles in two years
Operational and market risk charges also climb at UK group
Solvency II capital charges concentrated in two key risks
Market risk SCR averages 37% across six large insurers