LONDON/FRANKFURT, (Reuters)—European insurers' prospects deteriorated in the second half of 2011, weighed by a worsening sovereign debt crisis, a slowing economy, and persistently low interest rates, the industry's pan-European regulator said on Tuesday.
"Sovereign risk and the lack of a comprehensive political response to the sovereign crisis are the main sources of risk" facing insurers in 2012, the European Insurance and Occupational Pensions Authority (EIOPA) said in a twice-yearly overview of the industry.
Policymakers must remove all doubts that the euro would remain intact, it said.
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