New methodology for identifying systemically important insurers published
Increased focus on non-traditional business activities under IAIS proposals
Insurers that deviate from the traditional insurance business model and behave like banks will be more carefully monitored by regulators, the International Association of Insurance Supervisors (IAIS) has said.
In its proposed methodology for identifying globally systemically important insurers (G-Siis), the body said it had increased the weight it places on non-traditional, non-insurance activities undertaken by insurance companies and any interconnectedness with other financial institutions for
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