3/30/16 - 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."