U.S. insurance associations, including the American Insurance Association (AIA) American Council of Life Insurers and The Property Casualty Insurers Association of America are expressing concerns about timelines for identification of globally systemically important financial institutions (G-SIFIs).
The groups sent a letter to President Obama requesting the president’s assistance with G20 leaders in efforts to de-link insurers from the from the Financial Stability Board’s (FSB) work streams on banks. In the letter the groups said they believed that insurers should be separately considered from banks and after banking regulatory issues have been resolved.
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