Global insurers not systemic risks?

[Actuarial Enthusiast]

I found this article in this week's Financial Times about how the global FSB likely won't include insurance companies on it's systemic risk list. In the US, the new Federal Insurance Office (created by Dodd-Frank Act) is looking into that question for the US. I don't think insurance companies necessarily pose systematic risks, but their holding companies have for non-insurance financial risks. Worth monitoring.

Regards,
AE

http://www.ft.com/cms/s/0/54e85366-e...44feabdc0.html

From the FT Oct 28, 2010,

"...Insurers have been concerned about inclusion – and the higher capital requirements and regulatory costs that that would likely entail – since a preliminary list last year named six big insurance companies: Aegon, Allianz,Aviva, Axa, Swiss Re and Zurich Financial Services.

Lord Turner, who chairs the FSB’s financial supervisory co-operation committee, said there were key differences between banks and insurers, and the failure of an insurer was extremely unlikely to have the same kind of knock-on effects."

[sanki]

what is Dodd-Frank Act?

only thing I know this act has 2300 pages, encourages whistleblower and include insurance companies,

any new opportunities to actuaries not only for the insurance business?

thank you for your input

[campbell]

I doubt there are any special carveouts for actuaries. For one, we're a very small group of people.

Carveouts for lawyers? Sure. They've got great lobbying.

[JMO]

Here is an article I found greatly enlightening on systemic risk:
"Information, Behavior and Valuation"

[Brad Gile]

Originally Posted by JMO

Here is an article I found greatly enlightening on systemic risk:
"Information, Behavior and Valuation"

I think this may be a gem.