'Opaque and arbitrary' systemic risk methodology frustrates insurers
Designated insurers could come off G-Sii list when revised in 2014
Global systemically important insurers (G-Siis) have been designated using an opaque and arbitrary assessment methodology that provides no guidance to firms on how to reduce their systemic riskiness, experts say.
Nine insurers were yesterday designated as global systemically important by the Financial Stability Board (FSB). These were Allianz, AIG, Assicurazioni Generali, Aviva, Axa, MetLife, Ping An Insurance, Prudential Financial and Prudential.
At the same time, the International Association
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