New York Department of Financial Services Issues a Report on the Use of Captive Insurers

14 June 2013
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Key takeaways:

  • The New York State Department of Financial Services recently issued a report relating to its inquiry into the life insurance industry‚Äôs 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.