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Global insurance capital rule snared in transatlantic divide

Reuters  |  LONDON 

By Huw JonesLONDON (Reuters) - The first global standard for investors to compare how much capital insurers from different countries hold to keep policies safe is caught in a transatlantic tussle, casting doubt on whether it is practical, industry and regulatory officials say.Global banks have used common "Basel" capital rules for decades, and the $180 billion bailout for insurer AIG during the 2007-09 financial crisis prompted regulators to embark on a similar standard for insurers in 2013 for the world's top 50 insurers.But four years into the work there is no completed International ...

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First Published: Mon, September 11 2017. 11:45 IST