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Lloyd's Hopes States Will Follow Dinallo Collateral Proposal

NEW YORK--Lloyd's Chairman Peter Levene said he never thought the issue of U.S. collateral requirements for reinsurers would last as long as it has, but he hopes a New York regulator's proposal will fi

By Caroline McDonald | Updated on November 06, 2007

NEW YORK–Lloyd’s Chairman Peter Levene said he never thought the issue of U.S. collateral requirements for reinsurers would last as long as it has, but he hopes a New York regulator’s proposal will finally bring change.

Five years ago when he started at Lloyds, he said, there were two major issues to deal with: U.S. collateral rules and securing a license to operate in China–and a quicker resolution was seen for collateralization.

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