Insurance market solid, says Dutch union

Calcutta News.Net
Monday 29th September, 2008 (IANS)

The Dutch insurance market is secure, the Dutch insurers association NVV said in a statement Monday in reaction to the recent emergency bail-out of banking and insurance giant Fortis.

Speaking to DPA, NVV spokesman Jan-Willem Wits said the insurance industry in 'the Netherlands and elsewhere in Europe is generally speaking very solid'.

'This is due to strict European and Dutch regulations, high requirements concerning solvency and liquidity, and strict supervision by the Dutch central bank DNB and the financial watchdog AFM.'

The NVV statement also said insurers maintain substantial assets to balance insured risks, which provides guarantees to the Dutch consumer.

Wits added insurance companies usually invest in a conservative manner, with 'limited investments in shares'.

The NVV represents almost 200 insurance companies, which make up some 95 percent of the Dutch insurance market.

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