PwC's Managing upstream risk: Regulatory reform review - An asian perspective August 2013 | Page 28

5. Insurance
Update
In our last issue of Managing Upstream Risk, we covered a discussion with former Head of the EC’s Insurance and Pensions Unit, Prof Karel Van Hulle. Prof Van Hulle noted that insurers were waiting in anticipation for the list of G-SIIs to be released as it will pave the way for regulatory reform of the insurance industry. On 18 July 2013, the FSB released the list of nine G-SIIs and endorsed the methodology and policy measures as developed by the IAIS. The policy measures that will apply to G-SIIs are consistent with the FSB policy framework published in November 2011 and will include for each G-SII: • The RRP requirements under the FSB’s “Key Attributes of Effective Resolution Regimes”, in particular – o The establishment of a CMG; o The development of a RRP, including a liquidity risk management plan; o The carrying out within the CMG of resolvability assessments; and
Allianz SE American International Group, Inc. Assicurazioni Generali S.p.A. Av ????????L???5??1?????%????A??????%??????????????
????????
??????1???A??????????????????%????A???????????()?$?Q??????????????????????????????????????????????????????????????????????????????????????????????$???????????????????????????????????????L??$?Q?????????????????????????????????????????????????????????????$?Q???????????????????????????????????????????????????????????????M???????I???5?????????A???????$?!?????1??????????????????????????????????????????????????????????????%???????????????????????????????????????????????!?????1??????????????????????????????????????????????????????????????((??()I????????I?????I??????%???????((0