Reinsurers won’t be on systemically important list
Friday, 03 18 2016, Category: Insurance and Reinsurance, Country: World
Reinsurance companies won’t be designated as systemically important (G-SII) because they aren’t systemic, according to SCOR CEO Dennis Kessler, a view that is also held by rating agency Standard & Poor’s.
Speaking yesterday at an Insurance Institute of London lecture at Lloyd’s, Kessler explained that in his view reinsurance companies do not belong on the globally systemically important insurers G-SII list
“Reinsurance is not systemic. There is no connectivity, it’s not a syndicated industry. If one of my peers fail I don’t fail,” Kessler explained.