Bank of England backs COVID-19 pause in insurers' dividends

LONDON, April 8 (Reuters) - The Bank of England said on Wednesday that it welcomed the decision by some insurers to pause paying dividends due to the risk of heavy costs from the spread of the coronavirus.

"When insurers are considering whether or not to proceed with any dividend payments, their boards should pay close attention to the need to protect policyholders and maintain safety and soundness," the BoE said in a statement.

"Decisions regarding capital or significant risk management issues need to be informed by a range of scenarios, including very severe ones," it added.

(Reporting by David Milliken; Editing by Catherine Evans)