Solvency

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…

Liquidation Receivership Troubled Companies UILA – Uniform Insurers Liquidation Act Asset Liquidation Disintermediation Life Liquidity Risk Working Group – NAIC Liquidity Liquidity Assessment Subgroup Liquidity Risk Liquidity vs SolvencyLapse Risk Run Runnable Run on the Bank Run on the Life Insurance Company “asset liquidation analysis” UILA – Uniform Insurers Liquidation Act 1940 – LR -…

Solvency II Solvency II came into effect on 1 January 2016 en.wikipedia.org/wiki/Solvency_II#:~:text=Solvency%20II%20is%20a%20Directive,reduce%20the%20risk%20of%20insolvency. Europa – Risk management and supervision of insurance companies (Solvency 2) – [link] Bank of England – Solvency II- [link] 2006 – JIR / NAIC – Modernizing Insurance Solvency Regulation: Evidence from the UK – 21p With respect to insurance companies, Douglas et al.…

Bailouts 1920s/1930s – Great Depression 1980s – Federal Reserve 1990s – Executive Life, etc. 1992 0721 – Federal Reserve Report on Economy 03:38:22 SEN. RIEGLE And the banks got into big trouble. Not just the ones under your supervision, but the ones under the supervision of other regulators. And last year, we had to…

Baldwin-United Baldwin-United Corporation, a large financial services conglomerate headquartered in Cincinnati, Ohio Baldwin-United – Legal Cases MDL-581 – LC – Baldwin-United – [BonkNote] [Bonk: Contagion-?] In the meantime, a movement was afoot within the life insurance industry led by Metropolitan Life Insurance Company, as well as the securities brokerage industry, to put together an enhanced rehabilitation…

Solvency Failures Insolvent Insolvencies Surplus Notes Solidity (Solvency) During the early 1990s, however, the solvency problems of the life insurance industry increased, climaxing in the failure in 1991 of several large insurers– Executive Life Insurance Company, First Capital Life Insurance Company (EF Hutton) Fidelity Bankers Life Insurance Company, Monarch Life Insurance Company, and Mutual Benefit…

Guaranty Funds

Run

Regulatory Forbearance

Solvency Modernization Task Force – (EX) – NAIC

ELNY – Executive Life of New York

Liquidation

Solvency II

Bailouts

Baldwin United

Solvency