National Association of Insurance Commissioners (NAIC)
NAIC proposes asset tests for offshore reinsurance
Cashflow assumptions that prove too aggressive could lead to follow-up action – Minnesota supervisor
How US insurers went to war over CLOs
Mutuals and private equity-backed rivals clash over determination of capital charges
Equitable lobbies for concentration charge on riskier ABS
“Ultra-high correlation of losses” between lower-rated tranches requires new regulation, insurer says
NAIC proposal sees insurers snub debt rated by smaller agencies
Ability of some corporates to raise capital ‘materially impaired’, bankers say
An NAIC plan to second-guess bond ratings is ‘nonsensical’, insurers say
Proposal to create “quasi rating agency” at regulatory body sparks backlash from industry and US Congress
US insurance regulators move to kill CLO arbitrage
Capital charges on collateralised loan obligations will be model-based after 2024
US Treasury urged to investigate private equity insurers
Senate banking committee chair says Athene and other PE-owned firms take more risk, may hold less capital
Apollo, KKR, Ares and the Bermudan CLO arbitrage
‘Capital efficiency’ may explain a 1,100% surge in life assets reinsured on the Atlantic island
Accounting rules snare insurers in SOFR discounting switch
Re-couponing swaps to reduce discount risk could have adverse accounting consequences for insurers
Covid recession makes US insurers’ junk bond piles riskier
About $227.5 billion of firms’ debt holdings are BB+ rated or lower
Covid shock could topple US insurers’ exotic CLOs
Losses on “atypical” tranches could hit $899 million
US insurers built up holdings of shaky bank loans in 2019
Non-investment grade loans make up 80% of insurer loan exposures
US life insurers exposed to $130bn of CMBS
Majority of exposures are to senior tranches
Fund securitisation makes capital vanish – and watchdog growl
Probe into possible “abuses” of CFO structure could hit wider investments, experts say
CLO stress test shows losses for US insurers could top $6.9bn
Under one stress scenario, BBB tranches could suffer losses
Securities lending down over 10% among US insurers in 2018
Firms stepped away from securities lending transactions and repo markets last year
In hunt for yield, US insurers turn to illiquid assets
Mortgage exposures grow 72% in eight years since 2010
Insurers’ CLO exposures are small, but growing
US insurer holdings hit $122 billion in Q4 2018
Driverless insurance: regulating Prudential without the Fed
Scrutiny on largest US insurer should not be laxer than on second-tier US banks, experts warn
Kicking the can: global insurance deal highlights divisions
IAIS hails “unified path” on insurance regulation, but Europe frustrated by US exceptionalism
AIG decision threatens too-big-to-fail insurer label
Fragmentation of international rules on cards as US denounces systemic designations