On 23 December 2010, CEIOPS published its second half-yearly Financial Stability Report 2010, addressing market trends and outlook for 2011 for the insurance and reinsurance industries. The report concludes that the insurance industry faces several financial risks and challenges coming into 2011, e.g. the risk of low or even decreasing interest rates and risks connected to depressed equity markets. By contrast, the report found that the reinsurance industry is well capitalised overall, but that the outlook for growing profitability is not positive. CEIOPS also confirms that the risks outlined in its first report for 2010 have not altered significantly, and remain high.