Investment - Articles - EU savings and investments plans fall short without insurers


Insurance Europe welcomes the ambition of the EU’s Savings and Investment Union (SIU) to boost retail participation in capital markets. Insurance Europe, however, cautions that the European Commission’s latest plan to develop savings and investments ‘‘accounts’’ will fall short unless it includes insurers as product providers and insurance within its scope. This would help increase consumer choice, increase market competition and drive innovation.

 In its consultation response, the federation stresses that insurers are close to people due to their wide network of distributors. The insurance industry gives peace of mind to many savers who would not otherwise dare to invest, by offering financial guarantees and insurance protection. Moreover, insurers offer a range of life investment and pension products that enable people with differing needs and risk profiles to invest in capital markets.

 Thea Utoft Høj Jensen, Director General of Insurance Europe, commented: ‘Any EU savings and investments plan must be inclusive. Insurers are uniquely placed to reach as many people as possible, due to their extensive distribution networks and range of products. Excluding insurance would also be a missed opportunity to help tackle Europe's pension gap and channel investment towards the green transition'.

 Insurance Europe therefore calls on the European Commission to ensure that the forthcoming recommendation is inclusive, promoting a wide range of investment and insurance solutions rather than restricting its scope to ‘‘accounts’’.

 The federation also emphasises the importance of national tax incentives for products that bring societal benefits, and in the key role of financial and insurance education to increase citizens’ awareness about the different investment opportunities available in the market.

  

  

Back to Index


Similar News to this Story

FCA and PRA cut senior manager regime red tape
In the first phase of reforms to the Senior Manager Certification Regime (SM&CR), the Financial Conduct Authority (FCA) and Prudential Regulation Auth
Captive insurance regime must be globally competitive
Marsh has welcomed the UK government’s announcement that it will facilitate the creation of a UK regime for captive insurance companies, enhancing the
Wealth taxes back in the spotlight
Wealth taxes are back in the spotlight, as a potential solution to the gap in the government’s finances. Over the weekend, the Transport Secretary qua

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.