Newsletter November 09: Industry calls for FSB representation

Insurance expertise should be properly represented on the Financial Stability Board (FSB) and any other “macro-supervisory boards” and relevant working groups, according to the Geneva Association. The Association represents 80 chief executive officers from the world’s leading insurance and reinsurance firms. In a letter to the finance ministers of the Group of Twenty leading economies as they met in St Andrews, Scotland in early November, the Association acknowledged that the financial crisis means there is a need to monitor overall macro-economic risks that could threaten the stability of the financial services sector.