How Life and Annuity Issuers Could Get Silicon Valley Bank Flu
March 14, 2023 by Allison Bell
The failures of Silicon Valley Bank and Signature Bank of New York — two banks that began the year with solid credit ratings and good 2022 earnings — raise questions about whether other solid-looking financial services companies, such as life insurers, could be suffering from similar types of hard-to-detect problems.
Life insurers have emphasized, over and over again, that writing life insurance policies and annuity contracts is much different than offering consumers instant access to the cash in checking accounts, and that they face strict solvency oversight from state insurance regulators.
Click HERE to read the full story via ThinkAdvisor