A Dublin insurance trade group is denying a report that it lobbied against regulatory standards for Irish reinsurance operations, which gained notoriety last year during a U.S. probe of American International Group securities fraud.
The Dublin International Insurance & Management Association (DIMA) made the denial after a newspaper article reporting the group had lobbied the Irish Government not to accede to European Commission Directorate proposals to introduce mandatory regulatory standards for country's the reinsurance industry.
Last June, the former chief executive of Cologne Re Dublin, John Houldworth, agreed to plead guilty to federal criminal conspiracy charges in the U.S. and to testify against management at AIG.
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