Apr 3, 2020
European insurers grapple with mixed messages on dividends
European insurance companies are scrambling to react to contradictory messages from supervisors on dividends, with France seeking to stop payouts while regulators in the UK and Germany take a more flexible stance. On Thursday evening Eiopa, the EU's insurance regulator, urged insurers to stop dividends, bonuses and share buybacks during the coronavirus crisis. Germany-based insurers Allianz and Talanx have said that they plan to go ahead with their dividends. UK-based insurers are also working out their response after the Prudential Regulation Authority wrote to them this week and said that they should manage their financial resources prudently but stopped short of an outright ban on dividends. Most UK insurers proposed dividends alongside their annual results in February and March.
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