Washington — In a letter to National Association of Insurance Commissioners (NAIC) President Sandy Praeger, the American Council of Life Insurers (ACLI) is advocating revisions to the current reserving system.

The letter, signed by ACLI president and CEO Frank Keating, says that economic turmoil has forced life insurers to find new ways to conserve and attract capital. “In some situations, our current reserving system and risk-based capital systems are simply too conservative, which has the effect of reducing stated capital positions,” the letter states.

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