The Financial Stability Board (FSB) recently ranked nine insurers as global systemically important insurers (see link below). How important do you think this step is? Dombret: The publication of this first list of global systemically important insurers marks another step on the path towards a more stable financial system.
Banks are not the only entities that can be systemically important – market infrastructures and insurers can be, too. The main factors determining an insurer’s systemic importance are, first and foremost, its interconnectedness within the financial system and the size of its non-traditional and non-insurance business. I therefore fully support the FSB’s recent move.