>> It also glosses over the fact that they are state regulated by all states they run business out of, not just NJ. I'm sure they issue policies in NY, the NY i

>> It also glosses over the fact that they are state regulated by all states they run business out of, not just NJ. I'm sure they issue policies in NY, the NY insurance commissioner typically will oversee their valuation methods for stat reserves to make sure they meet industry standards. I would be very surprised if they took a loss on their life line of business that puts them out of business Honest question -- has this changed since 2008? If not, how is this different from AIG in 2008? Because putting aside AIG's sensational Credit Default Swap issues, the bigger story was AIG Investments' Securities Lending fiasco where huge portions of the reserves were lent out (short term) and the funds were used to buy illiquid mortgage backed securities which went down in value precipitously. https://www.americanbanker.com/opinion/aigs-collapse-the-part-nobody-likes-to-talk-about https://www.americanbanker.com/opinion/aigs-collapse-the-par...