Fed oversight 'welcome', says AIG's Sankaran

Chief risk officer says federal regulation necessary to close regulatory gaps

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Sid Sankaran, AIG

Federal regulation of systemically important insurers has played a vital role in eliminating blindspots in the US supervisory regime, which exacerbated the financial crisis, according to AIG's chief risk officer.

New York-based Sid Sankaran told Insurance Risk that AIG welcomes the introduction of the Federal Reserve as a consolidated group supervisor for US systemically important financial institutions (Sifis).

"AIG's approach to risk management is philosophically aligned with that of the Feder