IMN 2011: prolonged uncertainty to stifle debt markets

With the world’s eyes on Europe’s politicians today after finally reaching an agreement with private investors in Greek sovereign debt to accept a 50% haircut, the consequences for European real estate debt markets are palpable. Since the summer, market visibility … Continue reading →

Brussels ponders tougher commercial Solvency II capital charge

European Commission officials have proposed splitting the Solvency II capital charge between residential and commercial in a move that would see an even more onerous charge for insurers’ direct commercial property investment risks, CoStar News can reveal. Under the proposals, … Continue reading →

Solvency II delay will bring much-needed time for regulators and insurers alike

The European Union’s proposed implementation delay for Solvency II will provide regulators and insurers with much-needed breathing space, but is unlikely to boost lobbyists’ efforts to reduce the overly prudent 25% capital charge. Solvency II includes new rules which define … Continue reading →

Insurers and pfandbrief banks have the edge on senior debt margins

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Insurance companies and pfandbrief-funded banks are able to provide the cheapest cost of senior debt, CBRE research shows. While insurers, such as Legal & General, AXA and Allianz, are enticed by the relatively attractive margins senior debt now commands and … Continue reading →