State regulators are not seeking help from Washington with monitoring those private equity firm owners, the officers of the National Association of Insurance Commissioners wrote in a public letter sent to Brown earlier this week.
Brown is the chairman of the U.S. Senate Banking, Housing and Urban Affairs Committee.
The NAIC officers told Brown that U.S. life insurers have been writing complicated products and using large, complicated investment strategies for some time.
“Our system has experience at assessing and understanding this dynamic through market highs and lows,” the regulators said. “State insurance regulators are fully capable of assessing and managing the risks of these insurers, and there is nothing PE firms add to the playing field that changes this fact.
Author(s): Allison Bell
Publication Date: 2 June 2022
Publication Site: Think Advisor