Lane warns insurance sector against chasing returns
The Central Bank governor also urged insurers to pay more attention to cyber risk
The insurance sector faces a prolonged period of low interest rates but should not respond by chasing returns and investing in ever riskier assets, Central Bank governor Philip Lane has warned.
Speaking at Insurance Europe's eighth annual conference in Dublin, Lane said the low interest rate environment challenges the business model for firms in the life sector that have traditionally included guaranteed returns to policy holders. For non-life insurers, buoyant investment returns have subsidised the...
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