Insurers concerned about the way a regulatory unit classifies some of their investments have been reassured by regulators that it should not impact their solvency picture.
The issue discussed at an April 19 conference call by insurers and regulators involved hybrid securities in carriers' portfolios that have been classified as common stock by the Securities Valuation office of the National Association of Insurance Commissioners.
Mike Moriarty, director of the New York Insurance Department's capital markets bureau, said that a change in classification of these securities should not impact a company's risk-based capital ratio.
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