Therese Vaughan, the chief executive officer of the National Association of Insurance Commissioners, will step down in the first quarter of next year to revise a textbook, the industry association wrote in an e-mailed statement.
Eric Kolchinsky, the former Moody’s Investors Service analyst who told Congress the ratings company cared more about money than accuracy, was hired by the National Association of Insurance Commissioners.
Jim Donelon, the president of the National Association of Insurance Commissioners, questioned the need for a countrywide halt on approvals of captive insurance deals one day after New York’s regulator said the transactions hide risk.
After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business.
Warren Buffett’s Berkshire Hathaway Inc. acquired its largest stake in General Motors Co. before the automaker slumped 16 percent, as the billionaire chairman hands more responsibility to deputy stock pickers.