Business
Bessent Meeting With State Insurance Regulators Focused on Risk Monitoring
A meeting last week between state insurance commissioners and Treasury Secretary Scott Bessent focused on how to “make sure (commissioners) have the right regulatory tools to assess risk given this new investment landscape” of private credit and other alternative investments, Wisconsin state insurance commissioner Nathan Houdek said.
Houdek attended the private meeting in Washington D.C., and spoke about it Wednesday in response to an audience question at an actuarial conference. Houdek said Bessent requested the meeting and commissioners set it for last week when they were in D.C. for a separate conference.
Bessent said in a statement after the meeting that he emphasized the need for regulation “that encourages innovation while appropriately managing risk.” Life and annuity insurers’ private credit holdings swelled to about $1 trillion in 2025, according to insurance ratings firm A.M. Best.
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