NU Online News Service, Nov. 18, 11:27 a.m. EST
The National Association of Insurance Commissioners announced it has selected global investment management firm PIMCO to reassess investments that insurers complained were undervalued by major rating firms.
PIMCO will serve as a third-party financial modeler so state regulators can evaluate the residential mortgage-backed securities (RMBS) held by insurers to determine what the carriers' capital reserves for those investments should be set at.
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