Internal controls of reinsurers should come under review


SANTIAGO, CHILE -- Insurance supervisors should be able to review the internal controls of reinsurance companies and ask for stronger controls where necessary, the world’s insurance regulators agreed in October.

The stipulation was part of what regulators called "a significant first step" towards harmonising supervision of the global reinsurance industry that comprises firms that insure some of the risks primary insurance companies take on and want to hedge through reinsurance.

The International

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