The biggest and most complex U.S. insurance firms are in line to face capital standards that are simpler and less costly than those imposed on Wall Street banks, Federal Reserve Governor Daniel Tarullo said Friday.
Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isnt over yet, according to industry dealmakers.
U.S. District Judge Rosemary M. Collyer said that the Financial Stability Oversight Councils action was arbitrary and capricious and that the panel didnt follow its own guidelines.
Allianz SE, Europes biggest insurer, said its two most senior executives responsible for the companys asset management and investments businesses will leave.