Daniel Schydlowsky, the president of the Peruvian Superintendency of Banks, Insurers and Private Pension Funds, has resigned in controversy over the unpopularity of his pension reforms with parliamentarians.

The details are somewhat sketchy, but it seems that Schydlowsky wanted insurance carriers to compute a higher life expectancy than they do at the moment in their calculations. This would be bound to reduce premium, according to the press, and therefore prove unpopular.

Politicians have also been criticising Schydlowsky for going on too many journeys abroad, presumably with the subtext that he ought to have been working on the pressing problems that his regulatory body faces. The Superintendencia de Banca Seguros y AFP (SBS) is the regulatory authority in Peru with virtually every type of banking and financial institution under its purview.