b'TABLE OF CONTENTSUS/NAIC60Major NAIC Investment-Related Initiatives60Renewed NAIC Scrutiny of Private Equity Investments in Insurers72States Continue Adoption of Amended Credit for Reinsurance Models asFederal Preemption Deadline Looms76Insurance Business Transfers and Corporate Divisions Gather Steam79Winds of ChangeDevelopments in Climate Change and Insurance Industry Resiliency84States Are Slow to Enact Amendments to Anti-Rebate Provisions of NAIC Model Law90Continuing Focus on Race and Insurance91A Busy Year for the NAICs Group Capital Initiative94NAIC Model Amendments Address Relationships Between Insurers inReceivership and Affiliated Service Providers97Multistate Rate Reviews for Long-Term Care Insurance Aim to Reduce Cross-State Subsidies100UK/Brexit103Brexit103COVID-19: Operational Resilience 104General Insurance Pricing104Culture105Solvency II Reforms106Consumer Duty-of-Care106Appointed Representative Regime107UK Improvements to Part VII Transfer Process107Asia108China108Hong Kong110Singapore112Regulatory Investigations113MAYER BROWN |59'