Capital

Life and annuity capital adequacy and recommendations to improve life Risk-based Capital (RBC) requirements.

Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on how operational risk, including a prospective growth charge, might be better reflected in the Life Risk-Based Capital Formula. (July 27, 2016)
C1 Work Group (C1WG) comments on the ACLI’S proposed Life Insurer C-1 Asset Risk-Based Capital Requirement – Real Estate that was exposed by the NAIC Investment Risk-Based Capital Working Group. (September 29, 2015)
C-1 Work Group Presentation to NAIC on C-1 Factors for Corporate Bonds
C-1 Work Group report and presentation to the NAIC’s Investment Risk-Based Capital Working Group on C-1 factors for corporate bonds. (August 19, 2015)
Academy Presentation on YRT Reinsurance and Guaranteed Issue, Simplified Issue and Preneed Update at NAIC Summer Meeting
Academy representatives Richard Daillak and Mary Bahna-Nolan presentation at NAIC Life Actuarial (A) Task Force at the NAIC Summer 2015 National Meeting. Mr. Daillak, Chair of the Life Reinsurance Work Group, presented on Treatment of YRT reinsurance in Stochastic Exclusion Ratio Testing. Ms. Bahna-Nolan, Chair of the Life Practice Council, discussed the topic of accelerated underwriting. (August 14, 2015)
Life Capital Adequacy Committee (LCAC) comment letter to the NAIC Life Risk-Based Capital (E) Working Group regarding the latest exposure drafts related to the XXX/AXXX reinsurance framework. (March 20, 2015)
Life Capital Adequacy Committee (LCAC) comment letter to the NAIC Life Risk-Based Capital (E) Working Group regarding exposure drafts related to the XXX/AXXX reinsurance framework.
(January 29, 2015)
Life Capital Adequacy Committee, Property and Casualty Risk-Based Capital Committee, and Health Solvency Work Group comments to the National Association of Insurance Commissioners (NAIC) on operational risk issues. (January 7, 2015)
Stress Testing Work Group comments on NAIC Life Risk-Based Capital Working Group stress testing proposal.
(June 18, 2014)
Academy Senior Life Fellow Nancy Bennett presentation to Financial Stability Oversight Council Insurance Industry Work Group on regulatory capital requirements for U.S. life insurers.
(June 17, 2014)
C-3 Work Group report on recommended approach for updating regulatory Risk-Based Capital requirements for interest rate risk for fixed annuities and single premium life insurance (C-3 Phase I).
(June 12, 2014)
AG 43/C-3 Phase II Work Group comment letter to NAIC on ACLI proposals for modification of reserve and capital requirements for contingent deferred annuities. (May 8, 2014)
Life Capital Adequacy Subgroup comments on the NAIC Operational Risk Subgroup’s March 20 exposure of a revised proposal that suggests a new “C-5” factor in the NAIC Life Risk-Based Capital formula to provide for operational risk.
(April 15, 2014)
C-1 Work Group presentation to the NAIC Investment Risk-Based Capital Working Group on C-1 Factors for Corporate Bonds in Life Risk-Based Capital Instructions.
(March 29, 2014)
Contingent Annuity Issues Work Group responses to questions from the NAIC regarding the reserving and capital requirements for contingent annuities.
(March 21, 2014)
Report by AOM Discussion Group on ideas to improve the communication of issues within the appointed actuary’s memorandum. 
(March 19, 2014)
Life Capital Adequacy Subcommittee comment letter to the NAIC’s Life Risk-Based Capital (E) Working Group regarding double counting of the Asset Valuation Reserve in both RBC and Asset Adequacy Analysis.
(October 11, 2013)
Life Capital Adequacy Subcommittee comment letter to the NAIC’s Life-Risk Based Capital (E) Working Group on its exposure draft on  additional collateral for transactions with unauthorized reinsurers before risk-based capital (RBC) credit can be taken by the ceding company.
(October 11, 2013)
Presentation by the C-3 Work Group to the NAIC Life Risk-Based Capital (E) Working Group with recommendation of C-3 Phase 1 alternatives.  
(September 18, 2013)
Updated list of frequently asked questions regarding the Version 7 of the joint Academy-SOA Interest Rate Generator for life insurance products.
(September 12, 2013)
C1 Workg Group presentation to the NAIC Investment Risk-Based Capital Working Group on the benefits and uses of a representative portfolio for C1 factors in the Risk-Based Capital formula.   (August 24, 2013)