Reinsurance company executives want to see the current system of separate regulators for each of the 50 states replaced with an overarching federal regulatory body. Nikolaus von Bomhard, CEO of Munich Re, said, "We think, at Munich Re, that we should solve the problem on a higher level," explaining that the optional federal charter idea for insurers that has been periodically introduced in the U.S. Senate "is the path we should take."

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