Southampton, Bermuda--U.S. insurance regulators must stop playing "protectionist games" with reinsurance and act in a manner consistent with doing business in a global industry, Lloyd's Chairman Peter Levene said yesterday.
But, Lord Levene was at a loss to come up with a way to make U.S. regulators move more quickly on an issue that has been a high priority for Lloyd's for several years--the reduction of collateral requirements for foreign reinsurers.
U.S. regulators have been saying for five years that the issue is high on their agenda. "They can't keep playing games," Lord Levene said. "It is protectionist. It is wrong. It is unjustified."
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
