Solvency II - Group support tested by AIG and Iceland
The prospect of insurance groups extracting the benefits of diversification by calculating capital at group level and allocating it to subsidiaries in Solvency II has become an article of faith for the majority of European insurers. But the near collapse of $1 trillion US giant AIG has led some observers to warn about the fragility of group capital support. The ring-fencing of the AIG's myriad insurance subsidiaries had ensured that policyholders were protected, even if AIG's holding company
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