The Geneva Association writes an open letter to the finance ministers and central bank governors of the G20

02 November 2011

It would be unfortunate if the healthy insurance industry would not only have to suffer in financial terms from the effects of some high-risk non-insurance activities but possibly also by inheriting an inappropriate approach to systemic risk and potential SIFI designation process from banking.

While insurance is not expected to be on the agenda of the imminent G20 meeting in Cannes, the well-being of the financial system and the wider economy is. The Geneva Association hopes that the leaders of the G20 countries will take the specificities of the insurance sector into consideration when addressing any issues that could potentially undermine the positive contribution of this industry to economic development and growth.

Full letter

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