A number of major insurers are thought to be on a list of companies that pose a systemic risk to the financial system.
According to a report in the Financial Times, the Financial Stability Board's list of companies in need of cross-border supervision includes AXA, Zurich, Aviva, Aegon, Allianz and Swiss Re. Along with 24 banks, the insurers are thought to be systemically important to global financial services, and could therefore pose a risk to financial stability were they to fail. By having a list of major companies subject to cross-border regulation, the Financial Stability Board hopes it would be able to pre-empt the spread of risks around the globe. During last year's financial crisis, the com...
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