SLOVENIA's watchdog says insurers stress tests show capital adequacy

3 December 2014 —
Slovenia's insurance sector is adequately capitalised to meet the requirements of the European Solvency II Directive, the Insurance Supervision Agency said on Monday announcing the results of the stress tests.

Insurers were required by the Agency to carry out the stress tests of the European Insurance and Occupational Pensions Authority (EIOPA), based on formulas set out in the Solvency II Directive of the European Union. They are designed to identify and address problems but should not serve as grounds for  requiring capital increases.

On average, Slovenian insurance companies showed 80% capital surplus under the EU directive, which will apply from January 1, 2016, the Agency added.

Only two insurers did not meet the solvency capital requirement but their combined deficit was  a mere 4 million euro, representing 0.2% of their total assets as of December 31, 2013. The Agency did not provide names but pointed out that the companies will be able to bridge the gap with their operations. Read the full story SLOVENIA's watchdog says insurers stress tests show capital adequacy
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