Adam Hamm

  • North Dakota Insurance Commissioner - (2007 to 2016)
  • NAIC President - 2014
  • Former FSOC Member - NAIC / State Representative - (2014 to 2016) 
  • FSOC - MetLife - Dissented

2014 12 - Woodall / Hamm - re: FSOC MetLife Designation - Views of the Council’s Independent Member Having Insurance Expertise - 13p

  • Woodall (FSOC Member with Insurance Expertise) - p1-6
  • Hamm (NAIC- ND) - p7-13

(p7) - 4. A key consideration for the final designation is the asset liquidation channel.

The final Basis, like the proposed Basis, continues to offer merely speculative outcomes related to the liquidation of assets based in large part on hypothetical and highly implausible claims of significant policyholder surrenders.

  • To remedy this, the Council offers additional analysis in an appendix, but that analysis treats all financial institutions exactly the same using broad-based assumptions regarding asset dispositions that do not take into account the specific characteristics of MetLife, its assets and liabilities, the particular characteristics of insurance products or insurance policyholder behavior.

2014  01 - NAIC CIPR - Emerging Regulatory Issues in 2014, by Adam Hamm - 9p

  • It is with great pleasure and honor I accept the challenge to serve as President of the NAIC for 2014.
  • The low interest rate environment presents concerns for all sectors, but is most noticed in the life insurance sector.
  • An important regulatory modernization issue relates to a change to the regulatory framework for calculating life insurance reserves. <rule-based to PBR>
    • Principle-Based Reserving (PBR) Implementation (EX) Task Force
  • In recent years, perhaps as a reaction to rule-based life insurance reserving standards, life insurers have been interested in forming captive reinsurers to assume some insurance risks.
    • Life insurers are motivated to participate in these captive reinsurance transactions to obtain surplus relief.