US commissioner warns against focus on group capital

International standard-setters should not ignore legal-entity level view

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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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