NAIC to form new PE/hedge fund annuity committee

June 10, 2013 by Elizabeth D. Festa

As expected, the NAIC’s Captive and Special Purpose Vehicle (SPV) Use (E) Subgroup adopted its white paper, which it has been toiling with for many months.

The white paper adopted by the subgroup and sent to the parent committee on June 6 during an NAIC open conference call puts to bed the classification by some of captives as a “shadow” industry, and brings to fruition the product of much regulatory concern.

The white paper was adopted by the subgroup a week before the Federal Advisory Committee on Insurance at Treasury’s Federal Insurance Office (FIO) will receive a report on regulatory developments relating to reinsurance captives done under Washington’s top financial regulator, William White. Click here to read…

Originally Posted at LifeHealthPro on June 7, 2013 by Elizabeth D. Festa.