FSB details resolution planning progress [Investment Executive - News]
American International Group, Inc. New (AIG)
Last american international group, inc. new earnings: 2/13 06:45 am
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Source: Investment Executive - News
None of the big Canadian insurers made the Financial Stability Board’s (FSB) inaugural list of firms that are subject to global resolution planning standards. The FSB issued its annual report on resolution planning, which examines the state of efforts to ensure that the world’s large banks, insurers and financial market infrastructure firms (such as clearing and settlement agencies) could be wound up in an orderly way in the event of a crisis without spreading systemic risk. At the same time, the global policy group published its first list of insurers that are subject to global standards for resolution planning, including U.S. giants American International Group Inc., MetLife Inc. and Prudential Financial Inc.; European firms AXA Group, Allianz SE, Assicurazioni Generali SpA and NN Group N.V.; five U.K.-based firms; and one Australian company. None of the large Canadian insurers were included. “Publishing the list provides transparency to markets, policyholders and the larger publ
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