Financial Regulatory Forum
By Lawrence Hsieh, Practical Law for Thomson Reuters The post-crisis regulatory environment and ultra-low interest rates that ravaged bank proprietary trading desks have also hugely affected the insurance industry. This includes universal life insurance, which offers policyholders a cash value savings component earning tax-deferred interest on top of the death benefit. State insurance regulators face increasing pressure to stop insurers from raising premiums to offset their obligation to make guaranteed interest payments on the savings component at rates that were fixed during the high-interest rate “bubble” of the 1980s and 1990s.
By Huw Jones
LONDON, Nov 4 (Reuters) – Britain said on Wednesday it expects a satisfactory deal on setting up new European Union watchdogs for banks even though a key decision by the bloc’s finance ministers is less than a month away.