EU Insurance Watchdog Backs Global Capital Standards

Law360, New York (November 20, 2013, 7:01 PM EST) -- Europe's insurance supervisor on Wednesday applauded a global watchdog's recent decision to develop the first-ever global capital standard for large, internationally active insurers, urging regulators in Europe to sway international debate over the standard by forming a joint position.

Gabriel Bernardino, chairman of the European Insurance and Occupational Pensions Authority, said at EIOPA's annual conference in Frankfurt that he welcomed the International Association of Insurance Supervisors' move toward a global capital standard for global insurers. The IAIS took the step following a request from the Financial...
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