Capital Standards

  • Spencer BACHUS (R-AL) - I believe to protect those that are relying on the bond insurers’ capitalization, I believe the superintendent of the
    New York Insurance Department could have raised the capital standards.
  • Governor SPITZER. Sir, I think you misapprehend—
  • Spencer BACHUS (R-AL) I believe there was inadequate capitalization

2008 0214 - GOV (House) - The State of the Bond Insurance Industry, Paul Kanjorski (D-PA)  ---  [BonkNote]

  • Moreover, given the long-term nature of life insurers’ obligations to their policy holders, they are exposed to substantial risk based on market fluctuations and turns in the economic cycle.
  • Thus, it could be easily argued that they need more, not less, capital than banks based on the long tail of their liability structure.  (p5)

2014 0310 - Sheila C. Bair to Sherrod Brown - 6p

  • In contrast, many of the investment-oriented products marketed in the last decade have shorter duration and require greater liquidity than was needed in earlier ...

1992 - World Bank - The Life Insurance Industry in the United States:  An Analysis of Economic and Regulatory Issues, Kenneth M. Wright - 54p

  • 2010 1230 - Federal Register - Risk-Based Capital Standards: Advanced Capital Adequacy Framework—Basel II; Establishment of a Risk-Based Capital Floor -
    • Comments - 5
      1. The European Banking Federation
      2.  
  • 2011 0628 - Risk-Based Capital Standards: Advanced Capital Adequacy Framework-Basel II; Establishment of a Risk-Based Capital Floor A Rule by the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation on 06/28/2011
    • Effective Date: 07/28/2011
  • 2013 1212 - GOV (House) - International Finance System, Part 1 (CSPAN)
    • [PDF- , VIDEO-CSPAN]
    • 01:10:00 - Neugebauer / Lew - FIO, Late Reports, McRaith, FSOC, Banking vs Insurance, US v Europe, Complicated issue, states, feds, opening the conversation, G-20, Capital Standards
    • 01:19:00 - Bill Foster (D-IL) - Banking Capital Standards to Insurance, FSOC
  • AAA - American Academy of Actuaries
  • ACLI - American Council of Life Insurers
  • DOTT - Department of the Treasury
    • FIO - Federal Insurance Office, FACI - Federal Advisory Committee on Insurance 
      • 2020 1008 - FIO ICS Study
        • 2020 1008 - FIO - Notice - Federal Insurance Office Study on the Insurance Capital Standard Posted by the Department of the Treasury - [link-Federal Register]
        • 2020 1008 - FIO - Federal Insurance Office Study on the Insurance Capital Standard Posted by the Department of the Treasury on Oct 8, 2020 - [link-Regulation.gov]
          • 14 Comments
        • 2021 0210 - FIO/FACI - FACI International Subcommittee Perspectives on the Request for Information (RFI) on a FIO Study of the ICS - 22p
  • GAO - Government Accountability Office
    • 2015 0625 - GAO - International Insurance Capital Standards: Collaboration among U.S. Stakeholders Has Improved but Could Be Enhanced 
  • FASB - Financial Accounting Standards Board
  • Federal Reserve
    • BBA - Building Block Approach
  • IAIS  - International Association of Insurance Supervisors 
    • ICS - Insurance Capital Standards
    • MAV - Market Adjusted Valuation
  • NAIC / States
  • 2010 - IASB/FASB - Project: Insurance Contracts. Topic: Universal life insurance and other account-driven contracts - 13p
  • 2020 1203 - EIOPA - Report on Long-term Guarantees Measures and Measures on Equity Risk 2020 - 147p
  • acceleration clause
  • Spread stresses - NDSR
  • Prudential - This non-economic volatility is “valuation noise” resulting purely from the MAV framework rather than being indicative of a relevant risk to an insurer.
  • Surplus Notes
  • Accordingly, Team USA and other interested jurisdictions continue to build on our work on the Group Capital Calculation and Building Block Approach to develop what the IAIS terms the Aggregation Method which could be considered an equivalent implementation of a group capital rule for large, internationally active insurers in the United States.

2021 0526 - FRB to NAIC - Randal K. Quarles, Vice Chair for Supervision Board of Governors of the Federal Reserve System to National Association of Insurance Commissioners International Insurance Forum - 9p

  • 2022 03 - NAIC - Press Release - NAIC Shares Letters with Congress Regarding S&P Global’s Proposed Capital Model - [link]
  • 2019 1024 - Federal Register - Vol. 84, No. 206 / Thursday, October 24, 2019 / Proposed Rules - 62p
    • Insurers match life insurance and annuity long-duration products with a long-term investment strategy. (p6/57245)
    • In 2008, nearly half the largest life insurance groups experienced losses that were above their authorized control level regulatory capital requirement. (p57/57296 )
  • "SECTION 171" RISK-BASED CAPITAL REQUIREMENT 
  • capital calculation (GCC) - (NAIC),
  • Aggregation Method (AM) being developed at the International Association of Insurance Supervisors (IAIS) as a potential alternative to the insurance capital standard (ICS).
  • SEC - Investment Company Liquidity Risk Management Programs - Final Rule - 459p
    • new rule 22e-4

Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Minimum Regulatory Capital Ratios, Capital Adequacy, Transition Provisions, and Prompt Corrective Action (FRS Docket No. 1438 & RIN 7100-AD-86); Regulatory Capital Rules: Standardized Approach for Risk-weighted Assets; Market Discipline and Disclosure Requirements (FRS Docket No. 1438 & RIN 7100-AD-86); Advanced Approaches Riskbased Capital Rule; Market Risk Capital Rule (FRS Docket No. 1438 & RIN 7100-AD-86)

  • 2012 1022 - Chief Financial Officers of a coalition of domestic insurance companies (the Coalition), regulations.gov - 7p
  • IAA Risk Book - Chapter 12 - Capital – A Regulatory Management Tool, Dave Sandberg - 43p