Critics multiply as state regulators attempt to rein in offshore reinsurance
March 25, 2025 by John Hilton
State insurance regulators are not known for making bold moves or acting quickly. That history made it more newsworthy when the Life Actuarial Task Force released a proposal in February 2024 to enhance the testing of reserves supporting offshore reinsurance deals.
“The ability of insurers to significantly lower the total asset requirement for long-duration blocks of business that rely heavily on asset returns appears to be one of the drivers of the significant increase in reinsurance transactions,” reads the proposal from David Wolf, acting assistant commissioner for the New Jersey Department of Banking and Insurance, and Kevin Clark, chief accounting and reinsurance specialist with the Iowa Insurance Division.
Originally Posted at InsuranceNewsNet on March 25, 2025 by John Hilton.
Categories: Industry Articles
