The tension between big banks and private credit giants is flaring up again. The latest tussle started as the chair of UBS warned about risks in the US insurance industry due to private financing. Colm Kelleher warned that the "lack of effective regulation" in the insurance industry is causing a "looming systemic risk" as there's a "massive growth in small rating agencies ticking the box for compliance," on Tuesday at a conference hosted by the Hong Kong Monetary Authority."We're beginning to see huge rati ...