NAIC Responds to MetLife Designation by FSOC
Statement from Senator Ben Nelson, NAIC CEO

The Financial Stability Oversight Council’s action regarding MetLife is particularly troubling amid concerns from Congress, the Government Accountability Office (GAO) and others regarding the process and rationale for designation of non-bank financial companies. It is still unclear what specific activities triggered the designation, calling into question our confidence in the process and whether it is appropriately designed to reduce risks to financial stability. We look forward to reviewing the publicly available documents regarding this designation – including the comments of those with insurance expertise - to determine how the NAIC will respond.

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FSOC DISSENT: NAIC President, FSOC Designate and North Dakota Insurance Commissioner Adam Hamm

FSOC DISSENT: FSOC's Independent Member Having Insurance Expertise S. Roy Woodall, Jr.