Rector Report on reforming reserve financing transactions: much work remains — six developments

By David D Luce, William C Marcoux, Peter S Rice and Carla Christina Small

On 30 June 2014, the NAIC Principle-Based Reserving Implementation (EX) Task Force (‘PBR Task Force’) held a conference call to discuss comments to the modified recommendations to the report issued by Rector & Associates regarding reserve financing transactions (the ‘Rector Report’). One thing is clear — the original 1 July 2014 implementation deadline will not apply.

Based on the comment letters received by the PBR Task Force to the original Rector Report, modified recommendations to the Rector Report were issued on 4 June 2014.

The PBR Task Force voted to adopt the XXX/AXXX Reinsurance Framework, with New York and California voting against the adoption. Various NAIC task forces and working groups, such as the Life Actuarial (A) Task Force (LATF), Blanks (E) Working Group and the Executive Committee, are now assigned to develop the technical and actuarial details…

Click on the link below to read the rest of the DLA Piper briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from DLA Piper

View more briefings from DLA Piper

Analysis from The Lawyer

View more analysis from The Lawyer


3 Noble Street

Turnover (£m): 1,566.29
No. of lawyers: 3,961 (UK 200)
Jurisdiction: global
No. of offices: more than 75
No. of qualified lawyers: 542 (International 50)
No. of partners: 142.6