Thursday, 14 April 2011

Offshore trend for captives - escape excessive capital requirements

Little creepy as a Manxman to see any Crown Dependencies being championed in a race to the bottom, though the captives are clearly having a tough time of it under the current formula.

Whaty surprises me about this article is that the IAIS standards are being used for regulatory arbitrage - fascinating as, for all areas of ORSA and System of Governance I am currently working on, there is almost no difference between the two (to the extent that swathes of Sol II and the IAIS ICPs are twins, and not in the De Vito/Schwarzenegger sense).

I wonder where the gap is?

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