Mutual Regulatory Recognition Required
You would expect international insurance and reinsurance to be at the forefront of liberalization in the worlds economic system. Reinsurance, in particular, is one of the most global of industries. The products it sells know no natural boundaries in an age of e-commerce.
Whereas a car manufacturer in, say, Japan must ship its products to its export markets, a reinsurance contract faces no such obstacles. The restraints that our industry faces are generally man-made–specifically, political and regulatory.
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