Group supervisors ‘lack teeth’ for regulating international insurance groups

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Group supervisors need to have more responsibility for the regulation of internationally active insurance groups (IAIGs), according to insurers and industry lobby groups. Respondents to the latest consultation on ComFrame said group supervisors need to have more power, amid concerns that under current draft proposals they "lack teeth". Group supervisors, insurers and industry groups said, should have the ability to resolve disputes within a supervisory college, drive through decisions in the