|Targeted News Service|
A letter from the
"Only insurance-based standards are suitable for assessing and safeguarding the capital strength of insurance companies," the chief executives said in the
ACLI is strongly opposed to the application of bank-centric capital standards to life insurance companies. Section 171 of the Dodd-Frank Act, also known as the Collins Amendment granted the
"Applying inappropriate capital standards would make it substantially harder for our companies to deliver on the promises we have made to our policyholders. We believe that the interests of insurance regulators, insurance markets, and insurance customers are best served by capital standards specifically designed for the insurance business model," the letter reads.
Download a full copy of the letter. (PDF) https://www.acli.com/Newsroom/News%20Releases/Documents/052014_CapStandardsCEOLetter.pdf
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