As a teetering Euro threatens more disruption in world financial markets, a new survey reveals widespread concern among those responsible for risk management at U.K.-based insurance companies.
The Towers Watson market risk calibration survey asked 60 representatives from a range of insurers operating in the U.K. about their strategies to confront market risk. The survey found increasing pessimism regarding the future of the financial markets, with 44% of respondents indicating expect the number of developed market sovereign defaults to significantly increase in the next 50 years. Surprisingly, the survey also found a continuing reliance on historical data for populating risk models, with only 28% of respondents prioritizing current market conditions over historic data in their risk assumptions.
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