AM Best Information Services




MARCH 06, 2020 12:56 PM (EST)

AM Best Comments on the Implications of Coronavirus for European Insurers


CONTACTS:
 Richard Banks
Director, Industry Research, EMEA
+ 44 20 7397 0322
richard.banks@ambest.com

Edem Kuenyehia
Director, Market Development &
Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK - MARCH 06, 2020 12:56 PM (EST)
The Coronavirus (COVID-19) has the potential to challenge European insurers on both the asset and liability sides of their balance sheets. However, AM Best believes the biggest impact will come as a result of the economic fallout as governments and markets react to the virus’ rapid spread, rather than from direct coronavirus exposures.

A new Best’s Commentary, titled, “European Insurers Well Positioned to Manage Potential Exposure to Pandemic Risk,” notes that while the ultimate losses may not yet be quantifiable, AM Best expects the European insurance industry to be in a good position to understand and manage the potential exposures a pandemic poses. To access a copy of this commentary, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=295214 .

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.