News & Analysis as of

Life Insurance Reinsurance

Eversheds Sutherland (US) LLP

Highlights from the NAIC Summer 2024 National Meeting

In our recent webinar, members of the Eversheds Sutherland Insurance Practice Group discussed noteworthy developments from the National Association of Insurance Commissioners (NAIC) Summer National Meeting that was held in...more

Skadden, Arps, Slate, Meagher & Flom LLP

The PRA’s Expectations for Funded Reinsurance: How To Comply

The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more

Eversheds Sutherland (US) LLP

NYDFS proposes reinsurance amendments to remain compliant with NAIC accreditation standards and modify reciprocal jurisdiction...

On April 24, 2024, the New York State Department of Financial Services (NYDFS) published Proposed Rule Making for the 13th Amendment to Insurance Regulation 17, 20 and 20-A (Proposed Amendment), which purports to implement...more

Hogan Lovells

Recent law provisions and regulatory measures impacting the Italian insurance sector

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The Italian Budget Law for 2024 introduced important measures that will have an impact on the insurance business. As to the non-life insurance sector, it is provided an obligation for Italian enterprises and branches of...more

Latham & Watkins LLP

Funded Reinsurance: the PRA Flags Risks From Schematic Review

Latham & Watkins LLP on

UK regulator continues to raise concerns that current market practices could lead to systemic risk. The Prudential Regulation Authority (PRA) has issued another communication, the latest of a series related to...more

Faegre Drinker Biddle & Reath LLP

2023 NFI Insurance Public Policy Summit Highlights “Balancing Act”

The “balancing act” of insurance regulation across jurisdictions, policymakers, and stakeholders took center stage at the 18th Annual Networks Financial Institute Insurance Public Policy Summit on May 17 in Washington D.C....more

Eversheds Sutherland (US) LLP

NAIC Report - 2023 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2023 Spring National Meeting March 21-25 in Louisville, Kentucky. The agenda for this National Meeting was limited, with a number of NAIC working groups...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK PRA’s Priorities for Insurance Supervision in 2023

The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more

Eversheds Sutherland (US) LLP

NAIC Report - 2022 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2022 Fall National Meeting from December 12-16 in Tampa, Florida. The agenda for this National Meeting was limited, with a number of NAIC working groups...more

Eversheds Sutherland (US) LLP

NAIC Report - 2022 Summer National Meeting

Innovation, Cybersecurity, and Technology (H) Committee Adopts Request for Modernized Privacy Protections Model Law; Receives Working Group Reports - The Innovation, Cybersecurity, and Technology (H) Committee met on...more

Hogan Lovells

Rehabilitation of Scottish Re: No per se liquidation standard for insurance rehabilitation plans - Corporate / M&A Decisions...

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In In re Rehabilitation of Scottish Re (U.S.), Inc., C.A. No. 2019-0175-JTL (Del. Ch. Apr.18, 2022), the Delaware Court of Chancery ruled, as a matter of first impression, that in a delinquency proceeding for an insurance...more

Conyers

Legislative Recognition for Capital Redemption Contracts, Aka Funding Agreements

Conyers on

On Tuesday 28 June 2022, the Insurance (Amendment) Act 2022 (the “Amendment”) was published in the Official Gazette having been brought as a bill before the Cayman Islands Parliament during its third meeting of the 2021-2022...more

Hogan Lovells

IVASS specifies the requirements for appointed experts to carry out mystery shopping activities

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IVASS has launched a public consultation on a draft regulation laying down provisions on the use of external experts for the purposes of mystery shopping activities, i.e. the activity carried out incognito by or on assignment...more

Hogan Lovells

Italy: IVASS reviews the regulatory framework on unit and index linked products

Hogan Lovells on

On 11 March 2022, IVASS launched a public consultation on a draft regulation which would introduce new provisions governing unit-linked and index-linked policies issued by Italian and foreign insurance undertakings. On the...more

Hogan Lovells

Italy: IVASS reminds the timing for supervisory reporting

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IVASS has published its letter to the market of 4 March 2022 on the timing and operational modalities for the communication of information related to supervisory reporting. The Letter to the Market, together with the related...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) Fall 2021 Meeting Summary

What You Need to Know: Members at the Joint Meeting of the Executive (EX) Committee and Plenary voted to move forward forming the Innovation, Cybersecurity and Technology (H) Committee. Additionally, charges for the new...more

Carlton Fields

Chinese Insurers Look Beyond Infrastructure Risk in Latin America

Carlton Fields on

For over a decade, Chinese insurers have supported Belt and Road Initiative (BRI) project development in Latin America, with state-run insurer Sinosure among the first to insure major Chinese infrastructure projects in and...more

Eversheds Sutherland (US) LLP

NAIC report - 2021 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2021 Fall National Meeting from December 11 to 16 in San Diego, California. The meeting was held in a hybrid in-person and remote format due to the ongoing...more

Conyers

Insurance Bulletin - Spring 2021

Conyers on

What a year it has been since our last Insurance Bulletin in March 2020. Although the full impact of Covid-19 on the re/insurance industry remains unclear, the need to retain capital to meet potential losses has contributed...more

Conyers

Q & A with Nate Gemmiti Chairperson of CIRCA

Conyers on

The Cayman International Reinsurance Companies Association (CIRCA) was founded earlier this year to promote the interests of commercial reinsurers in the Cayman Islands and to work collaboratively with all stakeholders in the...more

Gerald Nowotny - Law Office of Gerald R....

NOWOTNY KNOWS SQUAT! Part 2 Using PPLI and PPVA Annuities to Raise Assets Under Management and Sell More Life Insurance

Nowotny Knows Squat - Part 2! This video speaks to financial advisors on how to sell more life insurance with private reinsurance. Customized product. Full commission product. #financialadvisor #insurance #ppli #ppva...more

Eversheds Sutherland (US) LLP

NAIC Report – 2019 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2019 Fall National Meeting from December 7 through 10 in Austin, Texas. Notable developments from the Fall National Meeting include: ..Bermuda, Japan and...more

Kramer Levin Naftalis & Frankel LLP

Acquiring a Life Insurer — Things You Need to Know Now

With M&A activity for life insurers or blocks of in-force business poised for a possible spike, acquirers of life businesses should consider factors that are peculiar to, or disproportionately affect, the life and annuity...more

Kramer Levin Naftalis & Frankel LLP

NAIC Task Force Advances Credit for Reinsurance Reforms in Response to Covered Agreements

On a May 15 conference call, the Reinsurance Task Force of the National Association of Insurance Commissioners (NAIC) advanced model legislation on reciprocal treatment for reinsurers as between the United States, on the one...more

Eversheds Sutherland (US) LLP

NAIC 2019 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2019 Spring National Meeting from April 5 through 9 in Orlando, Florida. This meeting was distinguished by a very large class of new commissioners (15 in...more

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