NAIC moves to disclose 'finite reinsurance' rules

The National Association of Insurance Commissioners (NAIC) in the United States is taking steps to amend disclosure requirements for insurers that use reinsurance with limited risk transfer features, also known as finite reinsurance.The NAIC property and casualty reinsurance study group recently met to hear feedback from interested parties on a set of proposed disclosure requirements, and to exchange views on the current statutory accounting principles regarding reinsurance transactions.The