US industry at odds over future of XXX captives
Competing solutions to A/XXX reserving proposed as Moody’s warns use of special-purpose vehicles ‘credit negative’
US regulators and trade bodies are developing opposing plans for the financing of so-called redundant reserves that domestic life insurers are required to hold.
The American Council of Life Insurers (Acli) and National Association of Insurance Commissioners (NAIC) have both brought forward proposals for the way insurers reserve for certain life products required under Regulation XXX and Actuarial Guidance XXXVIII (as known as XXX/AXXX reserves).
The proposals come as the debate over the use of
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