GARY G. MILLER: “Under the proposed rule, the bank-centric standards will be detrimental to insurance companies.”

While I strongly believe in coordination among international regulators, we must resist the tendency of pursuing a one-size-fits-all approach.

On the recent ruling on Basel III, you acknowledge insurance companies are very different from banks, and you postponed any negative decision on that. I think that was a very, very wise move.

We certainly need a well-functioning regulatory system, but it should facilitate growth, not stifle it.

I applaud you all for your effort. It is working. You are talking about it today. You started the testimony today about how the numbers are decreasing.