Insurers continue meeting with Feds over capital standards
February 6, 2013 by Liz Festa
As the insurance world awaits the insurance modernization report from Treasury’s Federal Insurance Office (FIO), perhaps in the coming week or weeks, the pace of discussion between insurers and federal regulators continues, a federal regulation is already here, or imminent, for some.
MetLife and other insurers, in a variety of capacities, continue to meet with Federal Reserve Board (FRB) members to make a case for the need for regulation to be insurance-company specific, and not done under the same model as that for what it views as a very different animal: banks.
Financial institutions regulated by the Fed, which now include about two dozen insurers – and could increase to more – are subject to its prudential standards, and some will also face enhanced capital standards if found to be systemically important through an ongoing process. Click here to read…
