Dennis Adams, the president/CEO of private insurer AmericanShare Insurance Inc., said Wednesday he does not read too much intoa handful of planned NCUA to ASI conversions now in thepipeline.

“Reasons for credit unions to convert vary greatly” and they caninclude a desire for less-constricting rules on account segregationor they may be wariness over investment losses relating to “NCUAtransparency,” said the head of the Ohio-based firm.

Adams, in Chicago this week for a meeting of the NationalConference of Credit Union Supervisors, said only one planned ASIconvert, the $135 million School Employees Lorain County CU in Elyria, Ohio, has givennotice to members and NCUA on a vote to convert on depositinsurance.

“There are a couple more totaling $100 million in other statesbut they haven't announced the member vote so I can't talk aboutthem,” Adams said.

The ASI head also declined to elaborate on a special15 basis point premium assessment his company has announced for2011.

“The press release explains our position,” Adams said, pointingto lower yields on ASI's government bond portfolio and “hesitanteconomic recovery” straining earnings.

The NCUA said Monday because of such conversion' relative rarity,it was not making contingency plans to help credit unions that stayin its system deal with any additional costs from losingparticipants.