Senate Bill Aims For Insurer-Specific Capital Rules

Law360, New York (July 26, 2013, 5:14 PM ET) -- Sens. Sherrod Brown, D-Ohio, and Mike Johanns, R-Neb., on Thursday introduced a bill that would shield insurers from minimum capital rules developed for banks under the Dodd-Frank Act.

S 1369 excludes insurers that are supervised by the Federal Reserve Board from minimum capital rules that are set for banks. These insurers can include those labeled systemically important, including American International Group Inc. and potentially Prudential Financial Inc. and MetLife Inc., along with insurers that are affiliated with depository institutions.

Sponsors of the bill say it gives the Federal...
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