The NAIC, the FIO and the ‘Bermuda Triangle’
The Federal Insurance Office has issued warnings about the ties of private equity-led life insurers to 'shadow banking' and 'shadow insurance.' Why do state insurance commissioners want to shoot...
Private equity
CLOs: The 4th Leg of the ‘Bermuda Triangle’
Ownership of life/annuity companies has given PE companies a tool for tapping the virtually bottomless pool of tax-deferred U.S. retirement savings for their high-profit, lightly-regulated private credit businesses.
Slow-Walking the Oversight of Insurers and CLOs: 2010 – 2025
Committees at the National Association of Insurance Commissioners since 2014 have been studying how best to regulate the purchase of collateralized loan obligation tranches by life/annuity companies from asset...
Cross-Fire: NAIC and Fed Economists Release Same-Day Zingers
On March 21, Federal Reserve economists published research warning about increases in high-risk lending by U.S. life insurers. On the same day, the National Association of Insurance Commissioners asked...
Private assets, reinsurance pose systemic risks, research warns
Life insurers’ exposure to risky assets and reliance on reinsurance raises concerns about their interconnectedness and complexity, research from the Bank of International Settlements shows.
British regulators scrutinize ‘FundedRe’ in pension deals
The Prudential Regulatory Authority, the Bank of England's financial regulatory arm, told UK life insurers in late July that it has concerns about the use of 'funded reinsurance' (FundedRe)...
In the UK, private equity finds a NEST-ing ground
NEST has been at the forefront of UK’s auto-enrolled master trusts expansion into illiquid assets, but some doubted a private equity manager would work for a low expense ratio.
Why RIJ Obsesses over the ‘Bermuda Triangle’
Private equity is no longer a sideshow in the annuity industry. Its involvement is now the main event. But we know too little about private equity’s growing role in...
Insurers increase their private equity holdings: AM Best
Low interest rates, mild inflationary environments and the prospects for higher investment yields are tailwinds for private equity investments. But financial stress in the markets or severe public...
