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Collateral Rule Is Unfair,

Says Lord Peter Levene

International Editor


Lord Peter Levene says Lloyds continues to be in “serious dialogue” with U.S. insurance commissioners to change the current collateral requirement whereby alien reinsurers must maintain funds equal to 100 percent of U.S. liabilities.

The requirement “is totally unfair and unreasonable and unjust,” he says. However, the United States is Lloyds biggest market, “so weve got to get it sorted.”

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