Financial Stability Report December 2023

EIOPA's December 2023 Financial Stability Report explores the challenges the shifting macroeconomic landscape poses for insurers and pension funds. In addition to covering key developments in the sectors, the Report includes four topical focuses on specific areas of interest:

• recent developments in the liquidity position of insurers,
• evolution of insurers' asset allocation in an environment of rising interest rates,
• the liquidity needs of IORPs on interest rate derivatives, and
• the impact of past recessions on insurers and lessons for the future