The results of the EIOPA stress test on European insurance companies "are further confirmation of the solidity and reliability of the Italian insurance sector". This was stated by Bianca Maria Farina, president of ANIA, after the dissemination of the results by the European Authority on the sector.
The national association of insurance companies also underlines that the reduction in own funds that emerged in the adverse 'low for long' scenario (5,1% for the Italian insurance system, compared to an average European value of 18%) is " insignificant", demonstrating how Italian companies "enjoy an excellent degree of matching between the duration of assets and liabilities and between coupon flows and guaranteed commitments".
In the second "adverse scenario developed by EIOPA, the so-called 'Double Hit', the reduction effect of own funds reaches more significant dimensions - observes ANIA - It is an extreme scenario which foresees the simultaneous collapse of the value of Italian and European stocks and bonds. In this scenario, the anti-cyclical measures envisaged by the Directive in the so-called long-term guarantee measures package are effective”.
