USLG

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  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.

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  AG 38 Adopted: Check Your Life Reserves in the Rearview Mirror

  By Elizabeth Festa  |  September 12, 2012

  The joint committee led by Texas Insurance Commissioner Eleanor Kitzman has found success with a new approach to reserving for USLG and term life products with certain guarantees.

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  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?

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  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.

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  AG 38 Comment Letters: Let PBR Fly, Be Careful of Tax Issues

  By Elizabeth Festa  |  January 31, 2012

  Life insurers do assert that state laws that wouldn’t appear to prohibit the use of principles-based reserving on previously issued policies, as long as it is with the commissioner’s approval, key insurers told the NAIC.

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  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.

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  NAIC Top Working Group Tackles AG 38

  By Elizabeth Festa  |  December 8, 2011

  NAIC Commissionersy talk up a level playing field, uniformity, PBR and peer review as they roll up their sleeves to figure out the best way to reserve for new products with secondary guarantees, and how to establish premiums even as modern products continue to race beyond old-fashioned reserving methodologies.

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  Potential Need to Strengthen Insurer Reserves Seen as Negative for Credit, Bottom Line

  By Elizabeth D. Festa  |  November 7, 2011

  What does Moody's see for life insurers? At best, disruption. At worst, higher prices, overwhelmed markets, capital constraints, insurance department waivers, and damaged profitability.

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  NAIC Empowers New Working Group to Mull Guidelines on USLG Reserves

  By Elizabeth D. Festa  |  November 4, 2011

  The new joint working group will be sure to have some lively discussion between now and the Spring meeting. Will NAIC guidelines governing ULSG issue be far behind?

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  Life Insurer Reserves Loom Large at NAIC Meeting

  By Elizabeth D. Festa  |  November 3, 2011

  "There’s a real problem with the reserves,” said Benjamin Lawsky, New York's new top cop for financial services regulation. When New York is on the case, sit tight, underwriters of universal life with secondary guarantees.