Solvency – Page 2 – [BonkNote]

Mutual Benefit Life Mutual Benefit Life → MBL Life Assurance Corporation → SunAmerica → American International Group (AIG) Alan J. Bowers Palmieri and Company John A. Koskinen, Deputy Director of the Office of Management and Budget – [link] … successfully restructured Baldwin-United Corporation, a large diversified financial services company; … rehabilitated Mutual Benefit Life Insurance Company,…

Q: What May Have Happened if AIG had Gone Bankrupt? Davis Polk’s lawyer, Mr. Huebner, testified that it would have been a “very hard landing” for AIG, like cascading champagne glasses where secured creditors are at the top with their glasses filled first, then spilling over to the glasses of other creditors, and finally to…

Conseco Stephen Hilbert Tomisue Hilbert Green Tree Mobile Homes 2014 – AP – Conseco: Market Assumptions and Risk, By Russell Walker [Legal Cases] 2007 0409 – InsuranceJournal – Iowa Insurance Division Head Will Discuss Settlement with Insurer = [R-Factor] – [link] Johnston & Johnston v Conseco Jake Garn – Senator, Astronaut IN RE CONSECO LIFE…

Receivership Courts Dodd-Frank FDIC NAIC Receiver’s Handbook for Insurance Company Insolvencies for Qualified Financial Contracts Troubled Companies 2023 04 – NAIC – State Insurance Receivership Priority Act – Federal Priority Act – 1p UILA – Uniform Insurers Liquidation Act 1940 – LR – Legislation: The Uniform Insurers Liquidation Act – 12p Although there has been a vast…

Moratorium Moratorium Stay Contractual State Courts (p16) – Willis B. Howard, Jr., NOLHGA – National Organization of Life and Health Insurance Guaranty Associations: I’d like to respond briefly to my honorable friend, Commissioner Bartlett. Dwight, the guarantee association system works, and it works well. Dwight K. Bartlett III, Maryland Insurance Commissioner: Are you going to tell…

Guaranty Funds NAIC – Financial Condition Committee – (E) — [BonkNote] Guaranty Fund Issues Working Group – (E) – NAIC — [BonkNote] NCIGF – National Conference of Insurance Guaranty Funds – ncigf.org/ — [BonkNote] NOLHGA – National Organization of Life and Health Insurance Guaranty Associations — [BonkNote] (p515) – The working group identified several issues relevant…

Run Run – Index Run-off Firesale 2015 – FRB – Self-Fulfilling Runs: Evidence from the US Life Insurance Industry – 52p In May 1991, one month after seizing Executive Life, California regulators seized First Capital Life (FCLIC). Both insurers were Drexel clients with large junk bond holdings, and both had experienced ‘bank runs’. FCLIC’s run followed regulators’…

Regulatory Forbearance 2021 – AP – Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class, by Bo Becker (Stockholm School of Economics, CEPR, and ECGI), Marcus M. Opp (Stockholm School of Economics and CEPR), Farzad Saidi University of Bonn and CEPR), The Review of Financial Studies, Volume…

Solvency Modernization (EX) Task Force – NAIC The NAIC’s Solvency Modernization Initiative (SMI) began in June 2008 https://naic.soutronglobal.net/Portal/Public/en-GB/RecordView/Index/19797 SMI will focus on five key solvency areas: capital requirements, international accounting, insurance valuation, reinsurance, and group regulatory issues. SMI Roadmap https://content.naic.org/sites/default/files/inline-files/index_smi_roadmap_121231_0.pdf 2014 0814 – NAIC White Paper THE U.S. NATIONAL STATE-BASED SYSTEM OF INSURANCE FINANCIAL REGULATION…

ELNY – Executive Life of New York Edward Stone Law – ELNY edwardstonelaw.com/?s=elny edwardstonelaw.com/elny/class-action-lawsuit/ edwardstonelaw.com/elny/elny-in-the-news/ edwardstonelaw.com/elny/elny-litigation/ Karen L. Shaw et al v The United States Trevor Langkamp v The United States No. 15-764C filed March 20, 2017 No. 18-2052 – Appeals Court Decision – 14p (p2) – Because we conclude that the court erred in…