NEW YORK--There's a regulatory revolution occurring in Europe, but reinsurance executives say they don't believe the United States will be ready to join the movement anytime soon.
The remarks came during Standard & Poor's insurance conference here on Monday.
Noting that even Bermuda is transforming its regulatory structure to meet international standards, Wilhelm Zeller, chairman of the executive board of Hannover Re in Germany, focused on the issue of U.S. collateral requirements for foreign reinsurers to highlight the slow pace of regulatory change in the United States.
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