MARCH 06, 2020 12:56 PM (EST)
AM Best Comments on the Implications of Coronavirus for European Insurers
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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.