G-SIIs May Bring A Sea Change

Law360, New York (August 20, 2013, 12:27 PM EDT) -- The Financial Stability Board (FSB), tasked by the G-20 to prevent a future financial crisis, on July 18, 2013, designated nine large insurance groups as global systemically important insurers (G-SIIs), three from the United States — American International Group Inc., MetLife Inc. and Prudential Financial Inc. — along with Allianz (Germany), Assicurazioni Generali (Italy), Aviva (U.K.), AXA (France), Ping An (China) and Prudential PLC (U.K.).

The G-SII criteria were developed by the International Association of Insurance Supervisors (IAIS) and released the following day. The G-SII designation...
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