NAIC nears adoption of disputed rules on captives

Actuaries warn of non-compliance cost to end-consumers and impact on insurers

us-flag-washington-dc

The US National Association of Insurance Commissioners (NAIC) has pushed ahead with regulatory reforms on the financing of so-called redundant reserves by life insurers, although actuaries say parts of the package make "absolutely no sense".

A meeting of the NAIC's principle-based reserving implementation (PBRI) task force passed Actuarial Guidance 48 (AG 48) on November 17. The guidance is intended to harmonise the regulation of insurers using captives and special-purpose vehicles to offload th

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: