At the National Association of Insurance Commissioners (NAIC) Fall National Meeting, the Financial Regulation Standards and Accreditation (F) Committee voted to expose the referral quoted later in this article from the Financial Analysis Handbook (E) Working Group for a 20-day public comment period. Comments are due by the close of business on Monday, December 8.
In May 2013 at its Investors Day meeting, MetLife, Inc., announced it would take action to “better position the company to comply with Dodd-Frank collateral requirements [and] proactively address regulatory issues surrounding the use of captive reinsurance companies.…” Earlier this week, a MetLife press release stated the company has moved forward in this direction.
Connecticut Governor Dannel Malloy announced Insurance Commissioner Thomas Leonardi is resigning to take a senior adviser position at a global investment banking firm, Evercore.
A new A.M. Best publication, "The World of Captive Ratings," is a great resource for captive boards and managers considering the issue of whether to seek a rating for their captive.
Thomas B. Leonardi, Connecticut insurance commissioner, joins many other U.S. regulators who disagree with the International Association of Insurance Supervisors (IAIS) action to eliminate its member observer status.
Demotech has affirmed the financial stability rating of A (Excellent) for the National Assisted Living Risk Retention Group, Inc. (NALRRG).
Bermuda and Ireland, two offshore domiciles of choice for many captives with U.S. owners, are among the five international reinsurance supervisory authorities that have been recommended for approval by the National Association of Insurance Commissioners (NAIC) Qualified Jurisdiction (E) Working Group.
The National Association of Insurance Commissioners (NAIC) staff has recommended the Financial Regulation Standards and Accreditation (F) Committee delay action on its Multi-State Reinsurer definition proposal when it meets on Sunday, November 16, in Washington. D.C.
Attendees at the Cayman Captive Forum, scheduled for December 2-4, 2014, at the Ritz Carlton, Grand Cayman, can earn continuing education credit toward International Center for Captive Insurance Education (ICCIE) and the American Society for Healthcare Risk Management (ASHRM) certifications.