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LONDON—The International Underwriting Assn. has set up a lobbying group for companies writing business in the Americas.
The Americas committee will help members to monitor legislation and regulatory changes which might affect their ability to trade with countries in North and South America, the IUA said Tuesday.
The group has been set up in response to the region's growing economic importance and to combat restrictive regulation, said the IUA, which represents companies operating in the London company insurance market.
The IUA previously operated a market group that tracked legislative developments in the United States and Canada. That group now has been expanded to include Central and South America, it said.
“There is a definite trend toward liberalization of the insurance and reinsurance industry in South America, but progress is not always smooth and straightforward,” said Nick Lowe, the IUA’s director of government affairs, in a statement. “New legislative initiatives are emerging regularly. The new Americas committee will help London market companies keep up to date with these changes and give them a representative voice,” he added.