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EU insurers should maintain 'extreme caution' over payouts, says EU regulator

FILE PHOTO: EU flags flutter in front of the European Commission headquarters in Brussels

LONDON (Reuters) - The European Union's insurance watchdog said on Friday that it "strongly recommends" insurers maintain extreme caution when it comes to paying dividends due to uncertainty over COVID-19 fallout.

"Any dividend distributions, share buy-backs or variable remunerations should not exceed thresholds of prudency," the European Insurance and Occupational Pensions Authority (EIOPA) said in a statement.

(Reporting by Huw Jones; Editing by Mark Heinrich)