Zurich Financial, Swiss Re Challenge FSB on SIFIs, FT Reports
Zurich Financial Services AG and Swiss Reinsurance Co. executives have told the Financial Stability Board that big insurers should not be classed as systemically important financial institutions, so-called SIFIs, alongside banks, the Financial Times reported, citing an FSB meeting in Basel, Switzerland, yesterday.
Axel Lehmann and Raj Singh, chief risk officers of Zurich and Swiss Re respectively, said insurers don’t carry the same systemic risks as banks, the newspaper reported.
To contact the editor responsible for this story: Colin Keatinge at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.