Life Capital Adequacy Committee

The Life Capital Adequacy Committee (LCAC) analyzes issues related to life and annuity capital adequacy and recommends methods to improve life risk-based capital requirements. The LCAC is a technical advisor on solvency issues to the NAIC, including the NAIC's Solvency Modernization Initiative Task Force. The LCAC has several work groups, including the C3 Life and Annuities Work Group and the C1 Work Group, among others. This committee works with other Life Practice Council groups on the implementation of PBA and is a liaison to the Risk Management and Financial Reporting Council's Solvency and ERM Committees.

Staff liaison: Ian Trepanier

Chairperson(s): Wayne Stuenkel

Erik Anderson
Mary Bahna-Nolan
Nicola Barrett
Nancy Bennett
Jeremy Brown
Joseph Dunn
Sara Kaufman
Jason Kehrberg
Kerry Krantz
Marshall Lin
Neil McKay
John Nigh
Brian O'Neill
Peretz Perl
Linn Richardson
Michal Ryduchowski
Lisa Thomas
Chris Trost
Josh Windsor
Mark Yu
Jennifer Lee Zwach

Related Publications

Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on a draft report on operational life risk-based capital. (March 17, 2017)
Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on proposed operational risk factors and growth charge for the life risk-based capital (RBC) formula. Appendix attached. (December 19, 2016)
Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on proposed operational risk factors and growth charge for the life risk-based capital (RBC) formula. (October 31, 2016)
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)
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 07, 2015)
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)
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)
Letter from Academy RBC work groups to the NAIC SMI RBC Subgroup regarding the NAIC’s Dec. 9 Operational Risk Proposal. (January 30, 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)
C1 Work Group presentation to the NAIC Investment Risk-Based Capital Working Group on the development of factors for corporate bonds in the RBC formula.    (April 06, 2013)
The Invested Asset Work Group wrote a letter to the NAIC Life RBC Working Group regarding the ACLI's Proposal on Risk-Based Capital for Commercial Mortgages. (November 01, 2011)
Invested Asset Work Group comments on the Reporting Full Faith and Credit and Other U.S. Government Obligations proposal from Matti Peltonen of the New York State Insurance Department that was made to the Valuation of Securities Task Force (VOSTF) on July 7, 2011. (August 11, 2011)
Life Capital Adequacy Subcommittee presentation to NAIC's Life RBC Working Group on C3 Phase 3 RBC activities. (September 01, 2006)
Life Capital Adequacy Subcommittee recommended changes to the NAIC regarding risk based capital requirements for C-3a. (March 01, 2004)
Life Capital Adequacy Subcommittee recommendations to the NAIC regarding the calculation of the asset risk (C-1) required capital for preferred stock. (March 01, 2004)
Life Capital Adequacy Subcommittee progress report to the NAIC on C-3 Phase 2. (June 01, 2003)
Life Capital Adequacy Subcommittee report to the NAIC regarding a proposed new RBC method for indexed separate accounts. A spreadsheet accompanies the report. (June 01, 2003)