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ARTICLE · 09 SEPTEMBER 2020

Industry Voices Concerns On Group Capital Calculation

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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Insurance holding companies should be closely following the accelerating efforts by state insurance regulators to impose oversight over group (in addition to legal entity) financial resources.

United StatesFinance and Banking
Daniel Rabinowitz
Daniel Rabinowitz
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Insurance holding companies should be closely following the accelerating efforts by state insurance regulators to impose oversight over group (in addition to legal entity) financial resources. Key questions are coming to the fore in the development of such measures — such as the scope of such requirements, how to ascribe capital ratios to non-insurance companies in the group and how to evaluate non-U.S. entities.

On a Sept. 2, 2020 conference call, the Group Capital Calculation Working Group (GCCWG) of the National Association of Insurance Commissioners (NAIC) continued its discussion of a prospective GCC template and instructions. Picking up from its July 29 meeting at the all-virtual NAIC Summer National Meeting, the working group continued walking through comments of various insurers and industry groups. Some of the highlights are summarized below.

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