Kurt Woetzel, Global Head of Operations, Technology and Collateral Services, and Nadine Chakar, Executive Vice President, Global Collateral Services, discuss regulations' impact on collateral management in this post-crisis environment.
Insurers Plan for the Future
Despite surviving the global financial crisis with their reputations intact, insurance companies have not enjoyed an easy ride during the difficult economic conditions since 2008. Vince Pacilio, Head of Global Client Management for Insurance, and Paul Traynor, Head of Insurance Services, EMEA, discuss how the insurance industry is coping amid the many changes since the financial crisis. Pacilio and Traynor share the results of a recent BNY Mellon-sponsored survey conducted by the Economist Intelligence Unit. Respondents from Europe, Asia and North America included insurers from life, non-life and reinsurance companies, as well as intermediaries, including financial advisers, wealth managers and private banks.
The survey revealed that macroeconomic uncertainty, regulation and risk of contagion are the biggest challenges facing insurers in the long term. Respondents also believed strongly that regulators and policymakers should balance concerns for policyholder protection with other socioeconomic objectives.