Setting new risk management and supervisory standards for large and complex institutions is a huge task; their implementation will be even more demanding. So far, the differences in the regulatory and legal treatment of banks and non-banks have been understandable as their activities were concentrated in different markets.
Current state of the global economy and financial markets  Next, I would like to turn to the current state of the global economy, with particular reference to its effects on the business of insurance companies. Developments in the global economy following the failure of Lehman Brothers It is now three years since Lehman Brothers collapsed in September 2008, triggering the financial crisis.