Lloyd's: NAIC might drop collateral requirement for European reinsurers

09/16/2008 | Insurance Journal

NAIC will meet later this month "to consider the proposal to end collateral requirements" for reinsurers, according to a posting on Lloyd's Web site. The requirement has been a bone of contention among European reinsurers. "This is a significant step in the right direction: Towards the total abolition of collateral requirements, which we favor," Lloyd's general counsel said.

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