Monday, August 25, 2025
23.4 C
Lagos

European Watchdog Urges Re/Insurers to Suspend Dividend During COVID-19

 

The European regulator has urged re/insurers to temporarily suspect dividend distributions and share buybacks aimed at remunerating shareholders, given the level of uncertainties connected to the impact of the COVID-19 crisis.

The European Insurance and Occupational Pensions Authority (EIOPA) said re/insurers must take all necessary steps to ensure a robust level of funds so they will be able to protect policyholders and absorb potential losses.

The Australian Prudential Regulation Authority (APRA) made a similar move this week, asking insurers and banks to consider deferring dividend payouts or dividend reinvestment plans until the impact of the pandemic is better known.

EIOPA on April 2 urged re/insurers need to take into account of current level of uncertainty about “the depth, magnitude and duration of the impacts of COVID-19 in financial markets and on the economy and the repercussions of that uncertainty in their solvency and financial position.”

This statement builds on EIOPA’s message of March 17, which stressed the importance of insurers preserving their capital position in balance with the protection of the insured.

Source: EIOPA

 

 

spot_img
spot_img

Hot this week

Businessman, Ajose, Donates Materials to APC for Continuous Voters Registration Exercise

As part of efforts to support the rulling All...

LASAA Reaffirms Commitment to Fairness, Safety, Industry Growth

Prince Fatiu Akiolu MD, LASAA Lagos State Signage and Advertisement Agency...

Fidelity Bank to Convene Strategic Panel on Export Financing at FNITCC Atlanta 2025

As part of its ongoing commitment to expanding Nigeria’s...

Polaris Bank, NCF Partner on Tree-Planting Drive to Combat Carbon Emissions in Rivers

Polaris Bank has partnered with the Nigeria Conservation Foundation...

Stanbic IBTC Bank Unveils Return of Exclusive Save and Enjoy Promo Season 2

Stanbic IBTC Bank is once again raising the bar...

Topics

3D Printing in Africa, Middle East Target $1.3bn in 2019

Spending on 3D printing in the Middle East and...

Divestments of Oil Assets: NCDMB Warns Against Reduction in Compliance, Tax Revenue

The ongoing and planned divestments of onshore assets by...

Samsung Unveils New Foldable Future with Galaxy Z Fold2

Samsung continues to pioneer an entirely new category of...

SSP Celebrates 30 Years in African Insurance Market

SSP is delighted to be celebrating the 30-year anniversary...

How Custom Charges, FX Scarcity Aggravate Manufacturers’ Woes, Food Price Inflation

  Overview As Nigerians grapple with rising food prices amid aggravated...

DANGCEM Drags Benchmark Index … NSE ASI Down 1.2%

The positive performance recorded on the last trading day...

GE Hits 100th Power Plant Milestone in Sub-Saharan Africa

At the forefront of innovation and technology in energy...

National Association of Microfinance Banks at NSE

L – R shows Mr. Oscar N. Onyema, Chief...
spot_img

Related Articles

Popular Categories

spot_imgspot_img