Prudential Financial’s Sifi appeal casts doubt on US G-Sii powers

federal reserve

International policy-makers may not be able to impose enhanced supervision on US insurance groups designated as global systemically important insurers (G-Siis) unless these companies are also designated as systemically important by the US authorities.

Three US insurers, Prudential Financial, MetLife and AIG, were designated as G-Siis by the Financial Stability Board (FSB) last month. Large US insurers are also currently going through a domestic process to determine whether they are systemically