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Battle Shapes Up Over Hybrid Securities Valuation

The NAIC's Securities Valuation Office, in New York, which rates securities, has classified some hybrid securities issues as equity, drawing a variety of objections from insurers and securities issuer

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Insurers and some brokerage houses are strongly voicing their opposition to the way insurance regulators view the financial strength of insurers’ hybrid securities investments.

Their concerns come in advance of a meeting on the issue set for July 13 by the National Association of Insurance Commissioners.

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