The regulatory framework for systemically important banks has been finely redesigned in the last decade. The emerging framework for insurers closely resembles that for banks, culminating in the design and calibration of capital surcharges. However the business models and balance sheet structures of insurers and banks – and the different roles of capital, leverage, and risk absorption– are quite different so the banking model of capital cannot be applied to insurance. Prudential regulations for the two sectors (Basel III versus Solvency II or the US risk-based capital framework) are entirely different, and confirm the need to adapt rules to the fundamental differences between the two sectors. These themes will be brought up by major experts in the area during the two days of the School.