Lloyd’s Welcomes Passage of Dodd-Frank Financial Reform Act

In a brief statement Lloyd’s of London officially welcomed the successful passage of the Dodd-Frank Act through the US Senate.

Sean McGovern, Lloyd’s Director and General Counsel, stated: “We welcome the passage of the Dodd-Frank Act and look forward to working with the proposed Federal Office of Insurance as it develops its policy on international insurance issues.

“We hope it will play an active role in harmonising regulatory standards and dealing with the equivalence issues which arise under Solvency II.”

Source: Lloyd’s of London