NU Online News Service, Jan. 17, 2:16 p.m. EST
WASHINGTON—A coalition of reinsurance trade groups are warning that protectionist policies by governments on global reinsurers will ultimately backfire because of the important role global risk distribution via reinsurance plays.
The statement by the Association of Bermuda Insurers and Reinsurers and the Reinsurance Association of America particularly cited Brazil's protectionist reinsurance regulation, which the groups said will force domestic reinsurers to pay record losses with less assistance from international reinsurance markets.
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