GFIA comments on FSB Draft Implementation Guidance: Resolution of Insurers Questions for consultation

Date de parution : 10/21/2013
Personne(s)-ressource(s) : Janice Hilchie

21 October 2013

The Global Federation of Insurance Associations (GFIA) through its 37 member associations represents insurers that account for around 87% or more than $4.0 trillion in total insurance premiums worldwide. GFIA welcomes the opportunity to respond to this consultation by the FSB on the implementation of the Key Attributes of Effective Resolution Regimes to the resolution of insurers. We understand that in the wake of the financial crisis, there is a need to assess whether financial institutions other than banks are prone to generate systemic risk and to discuss what measures are necessary to prevent their potential failure from impacting financial stability. Furthermore, we believe it is legitimate to consider the question of resolution of insurers in this context, as long as the solutions devised in response are proportionate to their objectives and based on the unique characteristics of the insurance business model...