General Insurance Article - ABI says EIOPA stress tests show strength of UK insurance

 The European Insurance and Occupational Pensions Authority (EIOPA) has announced the results of its EU-wide 2016 Insurance Stress Test, the first such stress tests since the implementation of Solvency II.

 Its press release should be viewable here - https://eiopa.europa.eu/Pages/News/EIOPA-Announces-Results-of-the-2016-EU-Wide-Insurance-Stress-Test.aspx

 Commenting on the results, Steven Findlay, ABI Assistant Director and Head of Prudential Regulation, said: “These results demonstrate the strength of the UK insurance industry and its resilience to extreme market shocks during an extended period of historically low interest rates. The new Solvency II regime already requires insurers to hold high levels of capital to deal with unexpected stresses, and these tests assessed a combination of extreme shocks on top of that. For that reason, the results are particularly reassuring for customers.”