There may have been no major regulatory shift at a federal level against the alternative risk market in the US of late, but insurance supervisors have still managed to raise something of a clamour. Regulators have ensured that the issues surrounding finite reinsurance risks have been well aired, but that debate appears to be more sound than fury, according to Stephen Cross, chief executive officer, Aon Captive Services Group.
"If you are talking about noise rather than regulation and its impact on the captive market then, yes, there's been a lot of noise surrounding finite policies. But a lot of that comment has been initial and reactive," Cross told journalists in London yesterday. He was speaking ahead of the Monte Carlo Rendezvous and Aon's own internal captive conference for clients, which are due to take place in September.
Demand for finite reinsurance contracts dried up almost 15 to 18 months ago after regulators began to investigate the misuse of certain types of contract
This article is only available in full to Complinet Complete UK and Europe Subscribers who are logged in.
Please log in to see if you can view this content.
