Cross-border regulation slammed
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Leading figures from the life industry have attacked the way insurance groups are supervised, and flagged the issue as a key topic for Solvency II. Speaking at the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS) conference in Frankfurt, Freddy Bouckaert, Axa's general manager for northern Europe, launched a blistering attack on how regulators have interpreted EU insurance directives.
Examples included treatment of Axa as a financial conglomerate by UK and Belgium
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