Systemic risk debate hots up over variable annuities and ILS
Regulators are targeting insurers’ use of variable annuities and insurance-linked securities in their fight against global systemic risk. But insurers say these products are fundamental to the way the insurance industry works. Louie Woodall reports
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What makes an insurance company a risk to the global financial system? This is the question posed by the International Association of Insurance Supervisors (IAIS) and the Financial Stability Board (FSB) as they prepare to unveil a new regulatory framework for the supervision of global systemically important insurers (G-Siis). As yet, there is no simple answer
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