Federal Insurance Office Report: The Federal Insurance Office Releases 2014 Annual Report on the Insurance Industry

Sullivan & Cromwell LLP - October 3, 2014

On September 24, 2014, the Federal Insurance Office (“FIO”) released its 2014 Annual Report on the Insurance Industry (“Report”), as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”).  The Report provides an overview of the financial performance and condition of the U.S. insurance industry and reviews a range of industry and regulatory developments from the past year – at the state, federal and international levels – that have implications for the U.S. insurance industry.  Throughout the Report, FIO restates numerous recommendations made in its “Modernization Report” issued in December 2013.