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Steve DeLott Quoted in Institutional Investors’ Compliance Reporter on Regulators’ Concerns about Private Equity Firms Investing in Insurance Companies
05.10.13
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Simpson Thacher senior counsel Steven R. DeLott was quoted in a Compliance Reporter article, “NY Regulator Eyes PE Insurance Deals,” which was published on April 25, 2013. The article discusses the increasing concern by the New York State Department of Financial Services about private equity firms investing in insurance companies. Mr. DeLott noted that “[t]here has been a movement afoot generally since the financial crisis to allow state regulators to have greater authority to inspect insurance companies’ parents and affiliates. State regulators at present have the authority to inspect insurance companies and the implicit authority to inspect the holding companies that control them. The National Association of Insurance Commissioners, an association of the state regulators, is pushing to clarify that authority and to have it codified in states’ laws.”