NAIC Responds to MetLife Designation by FSOC
We are concerned by the actions of the Financial Stability Oversight Council in their designations of insurance companies as systemically important. They have shown a continued lack of understanding of insurance business operations and existing regulatory oversight. It is not clear to the regulators what specific activities triggered the designation, nor what steps must be taken by designated companies such as MetLife and Prudential to have the designation removed. I would like to thank Commissioner Hamm, and his predecessor Director Huff, for their service as the insurance regulator representative on FSOC. We applaud their willingness to serve as the voice of state insurance regulators.