The ING Group, a Dutch financial institution working in the banking and insurance industries, has announced that it will be abandoning its plans for a combined European and Asian insurance investment operation. The company cites economic turmoil in the European region as the primary reason for its change of heart. Future investment and insurance plans are still a possibility for the future, if the European financial crisis is resolved appropriately. The company still has a keen interest in the Asian market, however, and plans to pursue alternative schemes to expand…
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1 in 10 European insurance companies fail stress test despite a robust market
The European insurance industry is in a state of flux, according to a new study from the European Insurance and Occupational Pensions Authority (EIOPA). The organizations recently conducted a stress test of nearly 130 as yet unidentified insurers. The test showed that the insurance market is quite robust, which means that most insurers are able to procure new clients and produce significant revenue. However, the thirteen unnamed insurance companies failed the test. Based upon its findings, the EIOPA estimates that these insurers would not be able to handle the impact…
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