Regulators give insurers a break on reporting interest rate losses

August 23, 2023 by John Hilton

State insurance regulators voted Sunday to adopt a key rule change on how insurers report interest rate-related losses.

An industry trade group lobbied for the rule change, which Reuters reports will free up hundreds of millions of dollars that insurers can use to write new policies or reinvest in business innovation.

The change is to the interest maintenance reserve [IMR], an accounting standard that helps carriers smooth their annual income across market conditions, according to a recent Conning report. 

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Originally Posted at InsuranceNewsNet on August 16, 2023 by John Hilton.