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The session, which will take place from December 12 to 16, will need to consider how to make Florida attractive to national insurers and reinsurers. -
The agency has also cut the carrier’s long-term issuer default rating to A-.
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Several structural factors, including the pricing cycle, make insurers more insulated from US activist states.
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Authorities in the UK, Ireland, Belgium and Bermuda have rubberstamped the ambitious restructure.
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In the past two years, the broker has seen more captive uptake than any point since the 1980s.
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Following a delay from former chancellor Nadhim Zahawi, City Minister Andrew Griffith has now removed the intervention power from the Financial Service and Markets bill entirely.
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Earlier this year, Superscript opened an office in the Netherlands and gained accreditation to operate across the EEA.
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Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.
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The reforms include changes to balance-sheet requirements – to help insurers invest billions more in growth assets – and plans to aid new entrants.
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The regulator’s CEO and chairman issued stark warnings to MPs about regulatory intervention powers for ministers that could be inserted into a reform bill.
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The Treasury is yet to clarify its plans to introduce ‘call in’ powers against regulators, or detail how regulators will be held accountable over a new growth duty.
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MPs have criticised the Treasury’s move to delay the introduction of a call-in power against regulators, in a bill passing through Parliament.
