Covid chaos ate into EU insurers’ own funds
Aggregate ratio of own funds to SCR fell 14 percentage points in Q1
Eligible own funds for meeting capital requirements fell €155 billion ($183.7 billion) across European Union insurers over the first three months of the year, as the coronavirus-induced market panic walloped their asset portfolios.
The aggregate ratio of EU firms’ own funds to their solvency capital requirement (SCR) was 232% as of Q1, down from 246% the prior quarter, and is at its lowest level
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