‘Rated Note Feeders’ Attract NAIC Attention

By Kerry Pechter

Holding a rated note (instead of an unrated private equity fund) can reduce the extra capital that life insurers need to post when buying risky, unrated private assets. Insurance regulators have taken interest in the strategy but are responding at a crawl. (Image: 'Sleeping Guards,' Piero della Francesca.)

Open Letter to NAIC’s Life Actuarial Task Force

By Peter Gould

'You encourage and abet the whack-a-mole behavior of insurers that regulators have tolerated in the industry—to the detriment of consumers... I don't want to be left holding the (empty) bag, like the 92,000 PHL Variable Life policy owners,' writes Gould, a variable annuity contract owner.

Open Letters Call Out Tepid Insurance Regulation

By Kerry Pechter

Retirement Income Journal shares the concerns expressed in these open letters to the National Association of Insurance Commissioners and thanks the authors for letting us publish them here.

The French Just Want to Enjoy Their Retraite

By Kerry Pechter

This winter I'm in Marseille, France, talking to the French about their retirement system and watching groups of them play a game called pétanque in the parks.

Open Letter to Scott O’Neal, Actuary, NAIC

By Larry Rybka

'In the 12 years since [the problem of financial reinsurance was identified], insurance regulators have done little other than allow this situation to now mushroom,' writes Rybka, a prominent figure in annuities and insurance, in his open letter to the NAIC actuary. (See related open letter by Peter Gould.)

Honorable Mention

In sales, deferred annuities finish 'up' year with a 'down' quarter: WinkIntel; AM Best upgrades Lincoln’s credit outlook; Axonic and Hexure collaborate on Waypoint MYGA; Invst launches pooled employer plan; Ratings of Nassau companies are upgraded.

To tax or not tax Social Security benefits

President Donald Trump’s 2024 campaign trial-balloon statement 'reduces incentives to save and work while increasing federal debt,' the analysis by the Penn Wharton Budget Model found. 'Wages and GDP [would also] fall over time.'

Data Connection: Private Credit AUM

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