US Treasury Secretary Scott Bessent met with insurance regulators to talk about their exposure to private credit as the increasingly complex ties between the two sectors fuels mounting regulatory scrutiny.
The meeting Thursday with the National Association of Insurance Commissioners, a standard-setting body composed of state insurance regulators, also focused on the off-shoring of life insurance and annuities reserves through reinsurers, the Treasury Department said in a statement.
“We appreciated the opportunity to meet with Secretary Bessent and share how state insurance regulators are leveraging effective oversight and enhancing risk-mitigation frameworks to promote stable markets and deliver strong outcomes ...
