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Member, Beacon International Group, Ltd.
NEW YORK—Chief risk officers from some of the largest North American insurers have formed a council to deal with risk management issues facing the industry.
The group, named the North American CRO Council, represents 12 property/casualty and 11 life insurers. Its membership includes CROs from ACE Group, American International Group Inc., Chubb Group of Insurance Cos., CNA Financial Corp., Hartford Financial Services Group Inc., Reinsurance Group of America Inc. and XL Group P.L.C.
“The Council seeks to develop and promote leading practices in risk management throughout the insurance industry,” said the group in a statement announcing its formation on Friday.
The council plans to participate in developments involving with regulatory capital requirements across jurisdictions, provide input to North American regulators on ways to evaluate solvency, and produce research on emerging risks.