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The current selection process by the Financial Stability Oversight Council will be ongoing, not a one-time thing, according to the chief advisor to Deloitte Insurance Group.

We've given the industry, including the insurers immediately affected, an opportunity to sound off on the FSB's designation of G-SIIs, and on how the IAIS plans to develop new capital requirements for this group.

We've given the industry, including the insurers immediately affected, an opportunity to sound off on the FSB's designation of G-SIIs, and on how the IAIS plans to develop new capital requirements for this group.

American International Group is now officially regulated as one of the first two non-banks designated as systemically important.

American International Group is now officially regulated as one of the first two non-banks designated as systemically important.

AIG confirmed last night that it has been designated systemically significant by the Financial Stability Oversight Council, paving the way for possible federal regulation at the holding-company level. Prudential Financial and GE Capital were also designated at an afternoon meeting of FSOC members yesterday.

AIG confirmed last night that it has been designated systemically significant by the Financial Stability Oversight Council, paving the way for possible federal regulation at the holding-company level. Prudential Financial and GE Capital were also designated at an afternoon meeting of FSOC members yesterday.

However, this snagand the potential it raises that the sale could fall throughis unlikely to delay designation of AIG as a systemically significant nonbank by the governmenta step that could occur as early as June 3.