US commissioner warns against focus on group capital
Julie Mix McPeak of the Tennessee department of commerce and insurance says international standard-setters would be unwise to ignore legal-entity level view in developing global capital standards
International standard-setters should be wary of “overreliance” on group capital measures that generate “misleading” views of capital adequacy, according to a top US state regulator.
Commissioner Julie Mix McPeak of the Tennessee department of commerce and insurance told delegates at Insurance Risk Europe that group-wide capital standards currently under development by the International Association of Insurance Supervisors (IAIS) should not override existing regulatory frameworks that prioritise
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