The future size and shape of the international regulatory architecture for the insurance industry will become much clearer during 2012 and the discussions on that process are reaching a critical juncture. This is especially true regarding the discussions about financial stability: whilst the list of globally systemically important financial institutions (SIFIs) in banking was issued in November 2011, the methodology for identifying and designating global SIFIs in insurance seems likely to be set by the next Group of Twenty (G-20) summit in June 2012, in Los Cabos, Mexico, with further decisions being taken in late 2012.

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