Insurance Europe and other insurance associations forming the International Network of Insurance Associations (INIA) have written to the Mexican Presidency of G20 with their views on regulatory reform. They stressed their belief that traditional insurance activities do not contribute to systemic risk, so that any new requirements should be targeted on those activities that are non-traditional and/or unregulated. Additionally, and given that most jurisdictions already have orderly winding-up procedures for insurers in place and regulations require insurers to hold substantial amounts of capital in excess of technical provisions, they see no need to introduce RRPs for insurers. (Source: Insurance Industry Letter to G20)