While the domestic and non-U.S. reinsurance industries have dueled for years over collateralization requirements, regulators now are exploring a more holistic approach to reinsurance supervision.
How the two aims of modifying collateralization practices along with overall reform will play out is anybody's guess because of the divergence of views of what needs to be reformed and how.
Brad Kading, president of the Association of Bermuda Insurers and Reinsurers, said the two main issues remain how reinsurance is treated as an asset of a ceding insurer, and how reinsurers should be regulated. "It is not really clear where the National Association of Insurance Commissioners wants to go with this," he said. "It seems to be an open-ended review, and open-ended reviews often go nowhere."
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