Basel presents capital rules for insurers

• Still waging the last war, the regulatory generals of Basel have completed drafting "the first-ever global insurance capital standard." Beginning in 2015, nine companies which have been decreed as systemically important by the FInancial Stability Board (this is different than the U.S.'s SIFI-designation), will report a "basic capital requirements" ratio on a confidential basis.
• The next stage set for the end of 2015 is the definition of "higher loss absorbency" requirements.
• Among the list of nine: AIG, Allianz (OTCPK:AZSEY), MetLife (NYSE:MET), Axa (OTCQX:AXAHF, OTCQX:AXAHY), and Prudential (NYSE:PRU).