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The European Insurance and Occupational Pensions Authority has started the latest round of stress tests to gauge insurers' ability to endure major shocks, reports Reuters.
The tests will measure the effects of volatility in financial markets on insurers. Industry body Insurance Europe's deputy director general said the tight schedule for the tests poses a big challenge for insurers and the federation therefore hopes that "EIOPA will allow companies to perform it on a best-effort basis and to use some simplifications," reports Reuters.