Bermuda ‘examined’ private equity insurers criticised by US senator
Premier David Burt is ‘confident’ pension assets reinsured on the island are ‘appropriately’ regulated
The Bermudan authorities have investigated the activities of insurers owned by private equity (PE) firms on the island, after the chairman of the US Senate banking committee accused them of taking more investment risk and using softer capital requirements than traditional rivals.
In March, Democratic senator Sherrod Brown of Ohio called on the Treasury Federal Insurance Office and the National Association of Insurance Commissioners – the college of state-level insurance regulators – to study
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