ECB’s Montagner: banks, insurers need separate capitalisation
Insurance arms should not backstop banking businesses in bancassurance groups, top supervisor says
Financial conglomerates must ensure that each of their business arms is well capitalised, a member of the European Central Bank’s supervisory board has said.
At an event in Frankfurt on June 13, Patrick Montagner explained the ECB’s supervisory expectations for companies that combine various forms of financial activities, such as banking, insurance and investment management.
Montagner said the ECB expected ‘bancassurance’ groups – which combine banking and insurance activities, and are the most
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