Regulators must treat insurers differently from banks - Silitch

CRO of Prudential Financial puts case for longer-term view on capital

Nick Silitch at Prudential Financial
Nick Silitch, Prudential Financial

The chief risk officer of Prudential Financial said this week that the risk management of insurance companies must be fundamentally different from that of banks – a point the industry is keen to make to international and US federal bodies as they develop new rules for systemically important institutions.

Nick Silitch used his keynote address at Insurance Risk North America in New York to detail the ways in which the business model, risks and accounting treatment of insurers are different – facto