A group of insurance industry associations from around the world has issued a statement to the International Association of Insurance Supervisors (IAIS) calling for international regulatory cooperation that encourages competition, rather than overregulation.

The Property Casualty Insurers Association of America (PCI), one of the groups that signed the statement, said the annual IAIS conference focused on “the international financial system crisis and supervision of insurance groups and conglomerates that include insurers.”

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