KANSAS CITY, MO (March 4, 2020) —The National Association of Insurance Commissioners (NAIC) has released a request for proposal (RFP) to vendors to provide, maintain, and support an Economic Scenario Generator (ESG) producing real-world interest and equity scenarios to be prescribed for use in calculations of life and annuity Statutory reserves according to the Valuation Manual (e.g. VM-20, VM-21) and capital under the NAIC RBC requirements (e.g. C3 Phase 1, C3 Phase 2).
The selected vendor will deliver an ESG and supporting tools that meet requirements set by regulators, along with robust documentation and training materials. On an ongoing basis, the selected vendor will produce the scenarios, support end users of the ESG, research changes considered by NAIC’s Life Actuarial (A) Task Force and Life Risk-Based Capital (E) Working Group and implement those that are adopted.
Additional information about this project is contained in the RFP's scope of work. The RFP is available on the NAIC’s website at www.naic.org. Responses to the RFP are due to the NAIC no later than May 1, 2020, with vendor selection expected to be made by the end of May 2020.
