Tag: Met Life
KWS Goes to Bat For Mega Insurance Company
Our purported insurance regulator, Insurance Commissioner Karen Weldin Stewart, is instead trying to run interference for Met Life. Check out this article from the state government website: fer cryin’ out loud:
DOVER, DE – In a letter to U.S. Treasury Secretary Jacob Lew and other federal regulators, Delaware Insurance Commissioner Karen Weldin Stewart has urged them to reconsider their vote to propose that MetLife be labeled as a “systemically important financial institution” (SIFI) and therefore subject to tougher federal regulation. “Based on my experience as an insurance regulator (insert joke here), and a regulator of one of MetLife’s larger insurance subsidiaries, I do not believe that MetLife’s businesses and corporate structure create the kind of systemic risk that Dodd-Frank’s SIFI designation process was designed to address,” she said. Stewart argues explicitly against the designation of MetLife and said state regulators are capable and competent to continue the oversight of the company (insert joke here).
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