NAIC 2025 Summer National Meeting

August 29, 2025 The NAIC’s 2025 Summer National Meeting in Minneapolis introduced several significant regulatory updates. A key development was the adoption of Actuarial Guideline LV (AG 55), which imposes new asset adequacy testing (AAT) requirements on U.S. life insurers ceding asset-intensive business to offshore reinsurers, effective with 2025 year-end reporting. The NAIC also advanced reforms to the risk-based capital (RBC) framework, including work on guiding principles and a controversial proposal to limit public disclosure of RBC levels. Additionally, the Statutory Accounting Principles Working Group proposed new disclosure rules for private placements and debt securities, effective in 2026, and extended guidance on the interest maintenance reserve (IMR). To strengthen oversight of insurer investments, the NAIC will reorganize its Valuation of Securities Task Force into the Invested Assets Task Force, with expanded authority over complex securities such as CLOs and CFOs. Other discussions focused on artificial intelligence, third-party data regulation, and enhancements to the Insurance Data Security Model Law.