AIG, GE and Pru given risk controls –

See on Scoop.itComplexity & Resilience

I have ‘discussed’ the differences in the perspective on the role of insurers in systemic risk. As far as I am aware in UK the (somewhat naive) stance is that insurers are not ‘systemically important’. I have yet to hear a credible counter to my assertion that commercial insurers can act as ‘hubs’ or ‘superspreaders’ of systemic risk. “If a firm were to get into material financial distress what are the impacts of the distress on counterparties, on markets, on the services they provide in the financial system?”
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