The Financial Action Task Force (FATF) released two documents, indicating jurisdictions with strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes.Read more
DNB calls on insurers to temporarily postpone dividend payments and share buybacks
Earlier today, the European Insurance and Occupational Pension Authority (EIOPA) issued a statement calling on insurers to suspend their dividend payments and share buybacks until more is known about the impact of COVID-19.
We fully endorse this recommendation. It supports our recent recommendation to banks and insurers not to use their buffers for dividend payment or share buybacks for the time being.
We expect the impact of the coronavirus on the economy to be substantial, but we cannot yet foresee the scale and duration of this crisis. As a result, the impact on insurers’ buffers is not yet known, since the effects of the crisis on the value of their investments and on their claims burden is still uncertain.