The head of a reinsurance firm has clashed with an insurance broker and other executives over the issue of whether broker investments in insurance carriers and carrier stakes in brokers are proper.
Dr. Nikolaus von Bomhard, chief executive officer of Munich Re, kicked off the controversy when he counseled against such investments at a CEO Leadership Panel at the World Insurance Forum in Southhampton, Bermuda, drawing dissenting views from other executives.
Dr. von Bomhard raised the issue during a discussion of the role that intermediaries have in the world since New York Attorney General Eliot Spitzer's revelations of bid-rigging practices involving brokers and insurers.
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