NU Online News Service, June 12, 12:00 p.m. EDT
Moody's Rating Service gives a favorable review to new rules proposed by the International Association of Insurance Supervisors to identify insurers that would pose a systemic risk to the global financial system, but the "devil is in the details," notes an industry representative.
In an analysis, Laura Bazer, vice president-senior credit officer for Moody's, says that the methodology proposed by the IAIS to identify global systemically important insurers (G-SIFIs) would be viewed favorably due to greater global regulatory coordination that "levels the regulatory playing field and prevents regulatory arbitrage, in which businesses move from highly regulated jurisdictions to loosely regulate ones."
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