Bid for global insurer standard faces hurdles

London

THE first global standard for investors to compare how much capital insurers from different countries hold to keep policies safe is caught in a transatlantic tussle, casting doubts on whether it is practical, industry and regulatory officials say.

Global banks have used common "Basel" capital rules for decades, and the US$180 billion bailout for insurer AIG during the 2007-09 financial crisis prompted regulators to embark on a similar standard for insurers in 2013 for the world's top 50 insurers.