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New York Department of Financial Services Issues a Report on the Use of Captive Insurers
14 June 2013
The New York State Department of Financial Services recently issued a report relating to its inquiry into the life insurance industry’s use of captive insurance companies in connection with insurance reserve financing transactions.
This report made recommendations regarding these transactions and further regulatory actions to be taken.
This report coincides with an ongoing review of the regulation of captive transactions by the NAIC.
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