C3 Life & Annuities Work Group

The Work Group will review and evaluate the interest rate and market risk (C3) component of the current Life Risk Based Capital framework as it applies to annuities, with focus on the 'Phase 1' component of C3 and how it relates to the other C3 components. The Work Group will work with other Academy groups and the NAIC's Life Risk-Based Capital Work Group and recommend changes to the Life Risk-Based Capital formula, as necessary.

Staff liaison: Ian Trepanier

Chairperson: Link Richardson
Nancy Bennett
Mark Birdsall
Michael Dubois
Mario Imbarrato
Jeffrey Johnson
Lawrence Seller
Wayne Stuenkel
Chris Trost
Dale Uthoff

Related Publications

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)
C-3 Work Group report to NAIC’s Life-Based Capital Working Group on recommended approach for updating regulatory risk-based capital requirements for interest rate risk for fixed annuities and single premium life insurance. (May 27, 2014)
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)
C-3 Work Group Presents Phase 1 Alternatives to NAIC
Work Group Makes Recommendation to NAIC on Updating RBC Requirements for Interest Rate Risk