Macroeconomic, market and digital risks are the main risks facing the insurance industry, according to the scoreboard based on ‘Solvency II’ data for the first quarter of 2022 and published by the European Insurance and Occupational Pensions Authority (EIOPA) on Monday 1 August.
Macroeconomic risks are a major concern for insurers. Indeed, global GDP growth forecasts indicate a fall until the second quarter of 2023, while inflation forecasts for the main geographical areas remain at a higher level than at the previous assessment (see EUROPE 12993/1).
Market risks are currently high, with increased volatility in the bond market. The same applies to the risks associated with digitalisation. The materiality of these risks to insurance, as assessed by supervisors, has increased, given the resurgence of cyber security issues and fears of hybrid geopolitical conflict.
The Risk Dashboard shows that other risk categories, such as insurance risks and profitability and solvency risks, remain at moderate levels, as do climate risks.
For more information: https://aeur.eu/f/2si (Original version in French by Anne Damiani)