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Summary
Join us for a timely discussion on NAIC policy reforms shaping insurance investments, featuring the Insurance Commissioner of Wisconsin and Chair of the NAIC’s Financial Condition (E) Committee, alongside an industry investment expert. This webinar brings together regulatory leadership and an investment management perspective to examine how evolving NAIC approaches to valuation, risk based capital, disclosure, and financial stability are influencing insurer portfolios.
Topics will include developments affecting private letter ratings, structured securities such as CLOs, RBC framework governance, macroprudential oversight, and new reporting requirements for private investments, with a look ahead to implementation timelines through year end 2026.
Speakers
S&P Global
David Knutson
Head of Industry Outreach, Chief Client Office
David joined from Schroders where he most recently worked as the Head of US Fixed Income Product Management after joining the firm as Head of Credit Research. Before moving to New York, he helped establish the US asset management business and led the research initiatives for global financials and emerging markets for Legal and General in Chicago. Prior to that David was responsible for financials research at Mason Street Advisors, the investment adviser to Northwestern Mutual. Previously he worked at UBS in risk management, debt capital markets and liability management (restructuring) and earlier started his career at Bank of America as a credit analyst and later as the research manager for Latin America. He is a Board member of the CFA Society of New York and a Board member of the Fixed Income Analyst Society (FIASI). Before leaving the buyside, David was a founder and Chair of the Credit Roundtable, a member of the Sustainability Accounting Standards Board’s Standards Advisory Group and participated on the advisory councils of several rating agencies. He earned the Chartered Financial Analyst, Financial Risk Manager and Chartered Market Technician designations and was a Rotary Scholar at the Universidad Argentina de la Empresa in Buenos Aires and also attended the University of Glasgow while earning a Masters in Finance, Economics and Foreign Languages and a Bachelors in International Studies and Political Science with Minors in History and Foreign Languages from Iowa State University of Science and Technology.
Chair, NAIC Financial Condition (E) Committee
Nathan Houdek
Commissioner of Insurance, State of Wisconsin
Nathan Houdek has served as Commissioner of Insurance for the State of Wisconsin since his appointment by Governor Tony Evers in January 2022. He previously served as Deputy Commissioner of Insurance for three years under former Commissioner Mark Afable.
Commissioner Houdek serves as the state's chief regulator of insurance and oversees the operations of the Office of the Commissioner of Insurance. He is also vice chair of the state Group Insurance Board and a board member of the Wisconsin Insurance Security Fund, the state's guaranty fund.
As a member of the National Association of Insurance Commissioners (NAIC), Commissioner Houdek currently serves as chair of the Financial Condition (E) Committee, and as a member of the Life Insurance and Annuities (A) Committee, the International Insurance Relations (G) Committee, and various task forces and working groups. He is also vice chair of the Governance Committee of the Interstate Insurance Product Regulation Commission.
Having spent over 20 years working in state legislative and regulatory affairs, Commissioner Houdek has extensive experience finding solutions to complex public policy and regulatory challenges across all lines of insurance. He has held several senior-level roles in the public and private sectors, including serving as a principal at one of Wisconsin's largest public affairs and business consulting firms and as chief of staff to a former minority leader in the Wisconsin State Senate.
Commissioner Houdek grew up in northern Wisconsin and earned his BA and MBA degrees from the University of Wisconsin-Madison.
Alternative Investment Management Association
Joe Engelhard
Head of Private Credit & Asset Management, Americas
Questions?
Please contact us if you need more information or have trouble accessing the webinar.