Life & Annuity Industry: Regulators Seek Visibility into Potential Solvency Risks Posed by Funding Agreement-Backed Notes

The rapid emergence of funding agreement-backed notes (FABNs), which have helped to fuel life insurers’ investments in private credit, is drawing scrutiny from the National Association of Insurance Commissioners (NAIC), with new disclosure rules set to take effect at the end of the year as regulators play catch-up to understand the risks these instruments could […]

Published on Oct 07, 2026

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