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26 October 2010

CEA co-signs industry letter to G20: Insurance business model different from banking model


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Die CEA unterstreicht, dass das Geschäftsmodell von Versicherungen sich wesentlich von denen der Banken unterscheide. Zusammen mit 16 weiteren Versicherungen und Verbänden befaßt sich der offene Brief u.a. mit Themen des globalen Handels, des Rechnungswesens, der Regulierung, der Eigenkapitalanforderungen, sowie Fragen zu Abgaben und Steuern.


As regards the insurance business model the letter states that it should be acknowledged that the vast majority of insurers were relatively unscathed in the financial crisis owing in large part to the unique characteristics of their business model and products. It is essential to distinguish between the core insurance business model and those of other financial services such as banking. Insurers use rigorous risk management strategies and direct premiums into secure investments that appropriately match the expected amount of benefits paid and the duration of the policies. Banks generally have a liquidity mismatch between their assets and liabilities since they tend to fund themselves short-term. Insurers do not have the same liquidity risks since their liabilities are generally not liquid given the deterrents and penalties to early surrender by policyholders.


© CEA - Comité Européen des Assurances


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