ERM Frameworks and Responses to risk [37]

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Bullet points include: 9 insurers deemed Global Systemically Important by Financial Stability Board in July 2013 based on IAIS criteria. Views differ about appropriateness. “Little evidence.. traditional insurance generates.. systemic risk”. Non-traditional insurance. Financial guaranty insurance, credit default swaps, derivatives trading. Variable annuities?  Subject to enhanced recovery and resolution planning requirements, enhanced group-wide supervision and higher loss absorbency requirements for non-traditional and non-insurance activities

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