Traditional insurance not a systemic risk - IAIS
Traditional (re)insurance activities do not post a threat to the global financial system or real economy, according to a new paper from the International Association of Insurance Supervisors (IAIS).
The paper from the influential organisation presents a "supervisory perspective" on the reinsurance sector and assesses the industry's role in financial markets, including its impact on the real economy, and argues that the events of the financial crisis proved the non-correlation and resilience of insurance activities.
The paper echoes similar conclusions...
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