Germany's insurers are seeking an exemption to rules governing their holdings of Greek government bonds, hoping to avoid a forced sale after the bonds were downgraded by credit rating agencies.
Insurance trade body GDV is in discussion with financial watchdog Bafin and Germany's Finance Ministry on how to deal with rules that require insurers to hold the highest quality of securities as backing for their long-term insurance liabilities, two people familiar with the talks said.
The outcome is as yet unclear and the talks themselves could last a few weeks, they said.
Reuters
