The multinational nature of reinsurance markets and the inherent difficulties that poses for regulators are being pushed into the spotlight by investigations into finite reinsurance contracts, which top the agendas of regulators in four countries. The International Association of Insurance Supervisors (IAIS) issued a statement on finite reinsurance just two days after Maurice R. Greenberg resigned as CEO of AIG over the General Re deal. The IAIS said its reinsurance committee will draft regulatory guidelines on finite reinsurance “in response to concerns about the use and abuse of finite risk reinsurance.”….
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