Bloomberg News

BaFin Says Sovereign Risk Queries for Insurers Regularly Occur

October 24, 2011

Oct. 24 (Bloomberg) -- German financial markets regulator BaFin asks insurers to disclose their sovereign debt risk every six months and a current assessment is part of this regular appraisal, spokesman Benjamin Fischer said by phone today.

“There is no special occasion,” Fischer said. “We have no influence on insurers’ capital investment decisions.”

Fischer was responding to a report in Financial Times Deutschland that said BaFin was conducting a review amid fears the financial crisis could spread to the insurance industry.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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