Top insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said July 18.
Regulators also released an initial list of nine insurers, including AIG and Allianz SE, that have been deemed globally significant and will likely have to meet the new requirements.
The announcement is a setback for a sector which argues that it, unlike banks, did not cause the financial crisis and should therefore not be tarred with the same regulatory brush.
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