Global Financiers Fret Over US Insurers, Immigration Curbs (1)

The world’s top bankers and investors warned of headwinds ranging from systemic risks in the US insurance sector to President Donald Trump’s immigration crackdown, underscoring an array of concerns even as markets steam ahead.

At a global summit in Hong Kong, UBS Group AG Chairman Colm Kelleher starkly cautioned against risks in the US insurance industry, citing weak and complex regulation as private financing booms. Meanwhile, State Street Corp. Chief Executive Officer Ron O’Hanley took aim at US immigration policies, calling them “anti-growth” amid an unprecedented crackdown that has spurred chaos even among skilled foreign workers.

Wall Street heavyweights such ...