The US life reserve financing market will suffer a hit in the first quarter of 2015 as US standard-setters wrangle over what type of penalty should apply to firms that do not comply with new regulations on the use of captive insurers for these transactions.
The National Association of Insurance Commissioners (NAIC) adopted Actuarial Guideline XLVIII (AG 48) during a conference call on December 16. The new regulation imposes strict conditions on the use of captive insurers to finance life
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