The chief executive of Zurich-based ACE Ltd., Evan Greenberg, reasserted a call to end state regulation of insurance in the United States, citing the hit-and-miss quality of individual jurisdictions as one reason for his position–although he said he doesn't expect that wish to come true this year.
Speaking at the opening session of the Standard & Poor's Insurance 2009 Conference this month, Mr. Greenberg was one of three insurance company executives who predicted that the final days of state oversight are not on the horizon.
However, while the others–Jay Fishman, chairman and CEO of Travelers, and Constantine (Dinos) Iordanou, president and CEO of Arch Capital–resigned themselves to working under a regulatory system they believe is costly and inefficient, Mr. Greenberg said he could not get as comfortable as his colleagues.
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