FSB: G-SIIs/ Developing effective resolution strategies and plans for systemically important insurers

FSB has published an updated list of global systemically important insurers, which comprises a total of nine insurers with one new insurer being added and another being removed. The next list will be published in November 2016. It is noted that IAIS will publish two consultations later this month. The first of these will update the G-SII methodology and the second of these will consider the definition and characteristics of activities deemed to be “non-traditional non-insurance”. In addition to the list, FSB has also published a consultation (third link below). This builds on guidance originally published in October 2014, (“Key attributes of effective resolution regimes for financial institutions”). It covers: objectives of resolution strategies for insurers; considerations in determining a preferred strategy; the strategic analysis underlying the development of resolution strategies and issues that should be addressed as authorities develop an operational resolution plan that builds on the resolution strategy. Further related consultations published today are covered in other news items. Responses are required by 4 January 2016.