US insurance - Regulators mull over plea for capital relief

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Rocked by plunging equity markets and bond portfolios, US life companies have made a plea to regulators to reduce capital requirements - with mixed results. While regulators have agreed to soften mortality and reinsurance collateral requirements, requests for lighter capital restrictions on variable annuities (VAs) have been rebuffed. However, New York appears to be bucking the national mood of regulatory scepticism by making its own VA capital concession.

The capital relief plea was co-ordinated