It has been billed as the biggest change in US accounting rules for decades. But reportage of the new US GAAP LDTI standard remains sparse. Since coming into effect in August, with an implementation deadline of 2021, companies have been scrambling to assess the impact. Sarfraz Thind reports
The Federal Reserve's work on large insurer regulation appeared to receive a final nail in the coffin when Prudential's Sifi designation was removed this month. Insurers have rejoiced, but systemic risk regulation has not been buried entirely. Sarfraz Thind reports
Insurer does not pose threat to financial stability, say US regulators
FSOC votes 6-3 to remove Sifi tag
Could act as "backdoor to force foreign regulations on US companies"
Adds that designating firms on an individual basis as systemic is "paradoxical"
ACLI urges regulators reconsider approach to systemic insurers
NAIC adopts valuation manual for calculating life firms' solvency capital
Aim is to reduce barriers to trade between US and EU insurance markets