For more than two years, the National Association of Insurance Commissioners (the "NAIC") has been addressing the use by life insurers of captive reinsurers to finance reserves for certain term life insurance or universal...more
The use by life insurance companies of captive reinsurance companies to finance XXX and AXXX reserves has been a significant and contentious issue in recent years. Some members of the National Association of Insurance...more
Backstop Capital Requirements, Higher Loss Absorption, Global Insurance Capital Standards: What Applies to Whom and When?
In July 2013, the Financial Stability Board (FSB) designated nine insurance groups as global...more
On October 9, 2013, the International Association of Insurance Supervisors (IAIS) took a significant step toward developing a first-ever risk-based global insurance capital standard (ICS). The target date for development of...more