The credit crisis has morphed in the past three months from a calamity largely affecting financial institutions with subprime mortgage exposures to a widespread phenomenon involving equities, commodities and foreign exchange rates. In this latest phase, the ripple effects have spread far beyond banks and hedge funds, and are starting to hit the insurance sector.
Having navigated the early part of the crisis relatively unscathed, insurance companies are starting to feel the pressure caused by
- Brexit novations ‘on hold’ to gain reg relief
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Mifid data publishers drag feet on Esma guidelines
- Banks hope final FRTB rules will ease NMRF burden
- Sefs, Libor fallbacks and risk governance in Asia