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Global Insurance Blog International Insurance and Reinsurance News, Trends, and Cases
Posted in Regulatory and legislative updates, USA

NYDFS proposed regulation addresses financial disclosure requirements for directors and officers of private equity buyers of insurance companies

On August 9, 2017, the New York Department of Financial Services (NYDFS) released for public comment proposed amendments to its regulations governing the approval process for the acquisition of control of insurance companies domiciled in New York. The regulations, NYDFS Regulation 52 (11 NYCRR part 80), sets forth the information required to be furnished in applications (so-called “Form A” applications) to the NYDFS seeking approval to acquire control of New York domestic insurers.

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