Goldman Sachs is considering offering so-called “monoline” insurance, as it explores new business areas ahead of incoming financial regulation expected to hit its lucrative trading operations.
Goldman would write “financial guarantees”, through one of its insurance subsidiaries, the New York investment bank said in a job advertisement which was posted on its website.
Goldman is expected to be among the hardest-hit by new rules preventing banks from trading for their own accounts and demanding they hold more regulatory capital against their assets. It is known to be examining ways to tweak its business model and recently bulked up its insurance business by buying Ariel Holdings, a Bermuda-based reinsurer.