|
|
Article: Insurers join forces to beat backlash as bonus row heats up
- Article from:
- The Independent (London, England)
- Article date:
- October 12, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
|
Industry wants to stress it is not the same as the banks and is
in good health
EUROPE'S insurance giants have quietly teamed up in a bid to
stave off what they fear could be a hugely damaging backlash from
regulators with the banking bonus scandal set to explode again as US
investment banks prepare to report bumper profits.
Meetings have been held in several European capitals in a bid to
co-ordinate efforts to ensure that insurers do not get caught in the
crackdown currently in the process of being imposed on banks.
The Independent has learned that leading figures in the effort
include Henri de Castries, chief executive of AXA, France's biggest
insurer; Andrew Moss, who runs Britain's ...