... and They Deserve Their Own Federal Regulator, No More State Regulation of Insurance Companies, he says.
The CEO of MetLilfe told the Financial Times this past week that Insurance Companies should not be lumped in with Financial Companies subject to legislation pending in the U.S. Congress. He singled out in particular Capital requirements and Derivatives which, he said, should be treated differently for Insurance Companies than for Financial Companies. Francesco Guerrera and Tom Braithwaite, "MetLife Chief Slams US Financial Reforms" (ft.com, Thursday, June 17, 2010).
He also repeated a long-standing industry position in asserting that Insurance Companies should be regulated by one Federal Regulator, and not by the States. Id.
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