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30 November 2009

FT: 30 financial groups worldwide considered systemically risky - find out which institutions may be too big to control

The list has been drawn up by regulators under the control of the Financial Stability Board, in an effort to pre-empt systemic risks from spreading around the world in any future financial crisis. The list includes six insurance companies which sit alongside 24 banks.

In a recent report, the Financial Times claimed that thirty financial institutions worldwide may be creating systemic risk to global financial stability.

This is important and key information as the crisis has revealed that big financial conglomerates may be too big to control and, therefore, constitute potentially systemically risky institutions.
The list includes six insurance companies – Axa, Aegon, Allianz, Aviva, Zurich and Swiss Re – which sit alongside 24 banks from the UK, continental Europe, North America and Japan.
Insurers are considered systemically important for a variety of reasons: they might, for example, have a large lending arm, such as Aviva, or a complex financial engineering business akin to that of Swiss Re.
The list provided by the Financial Times is as follows:

Credit Suisse

Deutsche Bank


Insurance groups
Swiss Re

© Financial Times

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