Will insurance industry giants continue to be “too big to fail”?

Insurance Industry Giants - Metlife Building New York

A new memo is currently circulating to propose legislation removing that status from massive insurers. Representative Jeb Hensarling (R-Texas) is circulating a memo to remove insurance industry giants from their “too big to fail” designation. The memo stated that proposed legislation would take that status away from even the biggest insurers in the country. The designation was granted to MetLife, AIG and Prudential immediately following the recent financial crisis. A regulatory consortium, the Financial Stability Oversight Council, deemed the insurance industry giants as “systematically important” to the American economy. That…

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