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NAIC Responds to Ruling Rescinding MetLife's "Systemically Important" Label

John M. Huff, NAIC President and Missouri Insurance Director
"The NAIC is pleased with the court's decision to rescind the designation of MetLife.  Although we won't know the judge's reasoning until the opinion is released, the result is consistent with what we as state regulators and I during my time as FSOC representative have always said — that FSOC's designation of MetLife disregarded the state insurance regulatory system and was inappropriate."

Adam Hamm, North Dakota Insurance Commissioner and Designated State Insurance Commissioner Serving on FSOC
"I'm very encouraged to see the court show support of our long-time point of view. I look forward to reviewing the court's decision and continuing to work with the Financial Stability Oversight Council to gain full recognition of the state-based system of insurance regulation as a means to prevent risk in the insurance sector."

About the NAIC

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. For more information, visit www.naic.org.

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