Aegon joins list of ‘too big to fail’ insurance companies

November 5 2015 by InsuranceAsia News Staff

The Financial Stability Board (FSB), a global committee of financial regulators, has included Dutch insurer Aegon on its list of insurance companies that are “too big to fail”, joining eight other insurers whose stability is deemed essential to the global financial system.

Aegon entered the list by replacing Italian rival Assicurazioni Generali, and this means Aegon may have to bolster its finances to meet regulatory requirements.

In 2019 Aegon as well as the eight other insurers on the list would be required to implement higher loss-absorbency requirements, the Switzerland-based FSB said.

Aegon spokeswoman Debora De Laaf was as saying that the impact of the inclusion of Aegon on the list remained unclear as of this time.

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