reserves

NAIC adopts Valuation Manual over hearty objections from N.Y., Calif.

By Elizabeth D. Festa | December 2, 2012

New York says PBR will lead to lower reserves at a time of stress for insurers and a still-fragile economy.

New York issues heavy-duty warning against PBR

By Elizabeth D. Festa | November 27, 2012

On the eve of the NAIC manual adoption, New York Department of Financial Services Superintendent Benjamin Lawsky launched a warning to his insurance commissioners about principles-based reserving.

Valuation Manual heads to NAIC meeting with fingers crossed

By Elizabeth D. Festa | November 26, 2012

Will New York be on board as the regulatory year comes to a close and legislative season readies to open?

Captive SPVs: Shadow industry or necessary tool for life insurers?

By Elizabeth D. Festa | November 21, 2012

Some state regulators are raising the specter of the “shadow banking system” in addressing the captives issue.

PBR Valuation Manual Adopted by Lead NAIC Committee

By Elizabeth Festa | August 17, 2012

Hamm of North Dakota says PBR needs to get moving to get approved by state legislatures, noting it has been around longer than Moses has been clean-shaven.

AG 38: Still In-Force Reserve Concerns and New Business Process Issues

By Elizabeth Festa | July 12, 2012

Is an NAIC actuarial panel checking reserves on a multi-state basis a new regulatory layer?

New York Actuaries Chime in on Net Premium Reserving

By Elizabeth Festa | May 24, 2012

The NAIC’s Life Actuarial Task Force debated net reserving methodology changes proposed by the American Council of Life Insurers for UL products with secondary guarantees.

MetLife and Pru Square Off Over Contingent Deferred Annuities

By Elizabeth D. Festa | January 19, 2012

Usually regulatory allies, MetLife and Prudential find themselves at odds over whether contingent deferred annuities should be formally classified as annuities or as financial guaranty insurance.

Insurers May Avoid Big Hit to Reserves for In-Force Business Under AG 38 Draft

By Elizabeth D. Festa | January 13, 2012

Draft framework form commissioners won't apply LATF to in-force business, but will apply it, open to modifications or tweaks, to prospective business, allowing companies to price for it.

NAIC to Scrutinize Contingent Annuities

By Elizabeth Festa | November 6, 2011

The NAIC is forming a subgroup to tease out the issues of the burgeoning contingent annuity market, even as key player, MetLife, says it will not sell them, citing a number of concerns over the product, including reserving.