NAIC wants more disclosure about use of offshore reinsurance
US watchdog seeks improved data around deals some say allow insurers to game capital rules
The US insurance watchdog is pushing for greater disclosure from life insurers of their use of offshore reinsurance – the latest of several steps from the regulatory body towards scrutinising the practice more closely.
Rules put forward by the National Association of Insurance Commissioners (NAIC) would require insurers to provide regulators with further information about two forms of reinsurance that have grown to be worth hundreds of billions of dollars in recent years – modified co-insurance
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