Insurers must prepare for far-reaching 'living wills' requirements
Systemically important international insurers will be required to design their own recovery and resolution plans in case of severe financial distress, as part of new requirements by regulators to protect the wider financial system. But there are fears that smaller insurers may eventually be targeted too
The question of how insurance groups that pose a systemic risk to the global financial system should be identified and regulated continues to evolve. In July, international policy-makers will publish a list of global insurers that are deemed to be systemically important, as well as additional policy measures for these groups. Designated firms will be subject to enhanced supervision and expected to
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