Búsqueda

Impact of ultra low yields on the insurance sector, including first effects of COVID-19 crisis

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000cam a22000004b 4500</leader>
    <controlfield tag="001">MAP20200026235</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20220911202133.0</controlfield>
    <controlfield tag="008">190416s2020    deu||||       ||| ||eng d</controlfield>
    <datafield tag="020" ind1=" " ind2=" ">
      <subfield code="a">978-92-9473-236-1</subfield>
    </datafield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="a">MAP</subfield>
      <subfield code="b">spa</subfield>
      <subfield code="d">MAP</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">219</subfield>
    </datafield>
    <datafield tag="245" ind1="1" ind2="0">
      <subfield code="a">Impact of ultra low yields on the insurance sector, including first effects of COVID-19 crisis</subfield>
    </datafield>
    <datafield tag="260" ind1=" " ind2=" ">
      <subfield code="a">Luxembourg</subfield>
      <subfield code="b">EIOPA</subfield>
      <subfield code="c">2020</subfield>
    </datafield>
    <datafield tag="300" ind1=" " ind2=" ">
      <subfield code="a">66 p.</subfield>
    </datafield>
    <datafield tag="520" ind1=" " ind2=" ">
      <subfield code="a">In the current macro-financial environment, one of the major concerns for the insurance market is the exceptionally ultra-low/negative level of interest rates. In addition, the Covid-19 outbreak has severely affected the macroeconomic and market conditions worldwide, with the launch of support packages and monetary easing of some central banks and governments taking place to mitigate the negative effects. The lockdowns implemented in an attempt to contain the virus outbreak have had a significant economic impact and led to the depreciation of economic outlooks for the following period. These forecasts have been surrounded by fundamental uncertainty regarding the length of the lockdowns, the confinement measures still necessary in the period ahead and the effectiveness of the policy response, hence leading to particularly large downside risks. In Europe, this was accompanied by a flight to quality, increasing the likelihood of a low for long scenario with adverse implications for the insurance sector. As a result, insurers are significantly challenged in terms of asset allocations, profitability, solvency and business model adaption. The low interest rate environment was and still is, also after Covid-19, one of the main issues for the insurance market. Given this context, the report assesses the risks and implications of the ultra-low/negative yields on the investment behaviour of insurers, considers how challenged are the profitability and solvency positions of the European insurance market and describes the impact on the insurance business models and consumers. For a better understanding of the additional challenges and uncertainty coming from the Covid-19 pandemic, the report had benefited from a qualitative questionnaire that captures the NCAs views regarding the events in Q1 2020 and their expert judgement regarding potential future risks.</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080590567</subfield>
      <subfield code="a">Empresas de seguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080598358</subfield>
      <subfield code="a">Productos de seguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080586294</subfield>
      <subfield code="a">Mercado de seguros</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080611897</subfield>
      <subfield code="a">Perspectivas económicas</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080578374</subfield>
      <subfield code="a">Tasas de interés</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080558970</subfield>
      <subfield code="a">Inversiones</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080560447</subfield>
      <subfield code="a">Rendimiento</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080552701</subfield>
      <subfield code="a">Solvencia</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20110024864</subfield>
      <subfield code="a">Modelos de negocio</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20200005599</subfield>
      <subfield code="a">COVID-19</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080552022</subfield>
      <subfield code="a">Pandemias</subfield>
    </datafield>
    <datafield tag="710" ind1="2" ind2=" ">
      <subfield code="0">MAPA20110000226</subfield>
      <subfield code="a">Autoridad Europea de Seguros y Planes de Pensiones</subfield>
    </datafield>
  </record>
</collection>