The chief executive of one of the largest insurers in the Netherlands has urged regulators to go ahead with plans to push all over-the-counter derivatives on to exchanges, arguing that the greater transparency and liquidity this would bring would benefit market participants.

Niek Hoek, chief executive of Delta Lloyd, the Dutch financial services group owned by Aviva of the UK, said pushing derivatives on to exchanges would also prevent counterparties from reneging on their contracts. He said: "From our perspective, it would be good news if there were more on-exchange derivatives because we've occasionally had problems with banks getting out of OTC derivatives."