Tuesday, October 7, 2025
23.5 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
spot_img

Hot this week

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Tier One Lender, Fidelity Bank Plc, has commenced the...

Fidelity Bank Honours Afreximbank President, Benedict Oramah, in Lagos

L -R: Minister of Industry, Trade and Investment, Dr....

Union Bank Champions Employee Wellness with Stay Recharged Health Walk

Union Bank of Nigeria held its first-ever Stay Recharged...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Stanbic IBTC Holdings Reports Remarkable Financial Growth for H1 2025    

Overview of Financial Performance  As of June 30, 2025, Stanbic...

Topics

Red Star Express Commemorates 25th Anniversary

One of Nigeria’s leading logistics company Red Star Express...

Fitch Upgrades Fidelity Bank’s National Rating to ‘A+(nga)’, Affirms Long-Term IDR at ‘B’

Global credit rating agency, Fitch Ratings, has affirmed Fidelity...

NLNG/NCDMB Sponsors Training of 300 Youths on Nigerian Content HCD Program in PH

Dagogo Buowari, Nigerian Content Manager at NLNG (6th Left); Dr...

FedEx Acquires TNT Express

FedEx acquires TNT Express recently. The acquisition of Dutch...

Vodacom Nigeria Scoops 3 Accolades at Beacon of ICT Awards

L-R; Solomon Ogufere, Commercial Director, Vodacom Business Nigeria; Ernest...

NAICOM Chief, Thomas, Earns Award from College of Insurance Supervisors

  From left in the picture is the Commissioner of...

Pension Assets Hit N7.7tr in Feb 2018

Hajia Aisha Dahir-Umar Acting DG PenCom The National Pension Commission (PenCom) says...

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Tier One Lender, Fidelity Bank Plc, has commenced the...
spot_img

Related Articles

Popular Categories

spot_imgspot_img