William D. Torchiana

Sullivan & Cromwell discusses NAIC Private Equity Issues Working Group Guidance for State Insurance Regulators in Considering Change of Control Approval Filings

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On March 29, 2015, the National Association of Insurance Commissioners (the “NAIC”) Private Equity Issues Working Group (the “PEI Working Group”) adopted a new section to be added to the NAIC’s Financial Analysis Handbook that provides a narrative guidance to …

Sullivan & Cromwell discusses Proposed Regulation of Private Equity Investment in Insurers

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SUMMARY

Citing a trend in recent years of private equity firms acquiring insurers, particularly life insurers writing fixed and indexed annuity contracts, the New York State Department of Financial Services on May 14, 2014 released for public comment proposed amendments …