This memo discusses The National Association of Insurance Commissioners’ 2010 NAIC Summer National Meeting held from August 14 to 17, 2010, in Seattle, Washington. This Client Update highlights some of the developments from the Summer Meeting that are of particular interest to many of our insurance industry clients, including developments relating to: (1) the use by life insurers of retained asset accounts for the payment of death benefits; (2) credit for reinsurance; (3) the solvency modernization initiative; (4) revisions to the NAIC Insurance Holding Company System Regulatory Act and the Insurance Holding Company System Model Regulation; (5) risk-based capital calculation for life insurers; (6) principle-based reserving and capital standards for life insurers; (7) international accounting for insurance contracts and (8) stranger-originated annuities transactions.