"Hidden risks" and "pro-cyclical behaviour" if own models are not allowed
But overall firms are well capitalised, says Swiss Re
Insurance Authority's regulatory duties take effect today
Important step towards removal of FSOC authority, says chief Kandarian
Remaining as deputy secretary general, will begin new role on 1 June
NAIC unlikely to trash agreement via Congress but wants added assurances
PRA should better recognise state-based insurance regulation, says Trans Re chief
Two more officials said to have been questioned after Xiang Junbo's "serious violations"
First quarter net income down nearly 50% from last year to $656m
Partially offset by amortisation of deferred gain from Berkshire Hathaway reinsurance