LONDON, April 3 (Reuters) - The Bank of England said on
Friday it backed calls from the European Union's insurance
regulator for insurers to pay close attention to protecting
policyholders when deciding whether to pay dividends or bonuses.
"We therefore expect firms to be prudent in deciding on
dividend payments or variable remuneration in view of the
elevated levels of uncertainty presented by coronavirus and its
impact on the global economy," a Bank of England spokesperson
said.
Shares in top European insurers sank on Friday after the
European Insurance and Occupational Pensions Authority said on
Thursday evening that insurers should suspend dividends and
share buybacks, and postpone bonuses where possible.
(Reporting by Huw Jones;
Editing by Alison Williams)