- Financial Condition (E) Committee
- Accounting Practices and Procedures (E) Task Force
- Blanks (E) Working Group
- Statutory Accounting Principles (E) Working Group
- Capital Adequacy (E) Task Force
- Health Risk-Based Capital (E) Working Group
- Life Risk-Based Capital (E) Working Group
- Generator of Economic Scenarios (GOES) (E/A) Subgroup
- Longevity Risk (E/A) Subgroup
- Variable Annuities Capital and Reserve (E/A) Subgroup
- Property and Casualty Risk-Based Capital (E) Working Group
- Catastrophe Risk (E) Subgroup
- Risk-Based Capital Investment Risk and Evaluation (E) Working Group
- Examination Oversight (E) Task Force
- Electronic Workpaper (E) Working Group
- Financial Analysis Solvency Tools (E) Working Group
- Financial Examiners Coordination (E) Working Group
- Financial Examiners Handbook (E) Technical Group
- Information Technology (IT) Examination (E) Working Group
- Financial Analysis (E) Working Group
- Financial Stability (E) Task Force
- Macroprudential (E) Working Group
- Group Capital Calculation (E) Working Group
- Group Solvency Issues (E) Working Group
- Own Risk and Solvency Assessment (ORSA) Implementation (E) Subgroup
- Mutual Recognition of Jurisdictions (E) Working Group
- NAIC/American Institute of Certified Public Accountants (AICPA) (E) Working Group
- National Treatment and Coordination (E) Working Group
- Receivership and Insolvency (E) Task Force
- Receivership Financial Analysis (E) Working Group
- Receivership Law (E) Working Group
- Reinsurance (E) Task Force
- Reinsurance Financial Analysis (E) Working Group
- Restructuring Mechanisms (E) Working Group
- Risk-Focused Surveillance (E) Working Group
- Risk Retention Group (E) Task Force
- Valuation Analysis (E) Working Group
- Valuation of Securities (E) Task Force
- Financial Condition (E) Committee
- Accounting Practices and Procedures (E) Task Force
- Blanks (E) Working Group
- Statutory Accounting Principles (E) Working Group
- Capital Adequacy (E) Task Force
- Health Risk-Based Capital (E) Working Group
- Life Risk-Based Capital (E) Working Group
- Generator of Economic Scenarios (GOES) (E/A) Subgroup
- Longevity Risk (E/A) Subgroup
- Variable Annuities Capital and Reserve (E/A) Subgroup
- Property and Casualty Risk-Based Capital (E) Working Group
- Catastrophe Risk (E) Subgroup
- Risk-Based Capital Investment Risk and Evaluation (E) Working Group
- Examination Oversight (E) Task Force
- Electronic Workpaper (E) Working Group
- Financial Analysis Solvency Tools (E) Working Group
- Financial Examiners Coordination (E) Working Group
- Financial Examiners Handbook (E) Technical Group
- Information Technology (IT) Examination (E) Working Group
- Financial Analysis (E) Working Group
- Financial Stability (E) Task Force
- Macroprudential (E) Working Group
- Group Capital Calculation (E) Working Group
- Group Solvency Issues (E) Working Group
- Own Risk and Solvency Assessment (ORSA) Implementation (E) Subgroup
- Mutual Recognition of Jurisdictions (E) Working Group
- NAIC/American Institute of Certified Public Accountants (AICPA) (E) Working Group
- National Treatment and Coordination (E) Working Group
- Receivership and Insolvency (E) Task Force
- Receivership Financial Analysis (E) Working Group
- Receivership Law (E) Working Group
- Reinsurance (E) Task Force
- Reinsurance Financial Analysis (E) Working Group
- Restructuring Mechanisms (E) Working Group
- Risk-Focused Surveillance (E) Working Group
- Risk Retention Group (E) Task Force
- Valuation Analysis (E) Working Group
- Valuation of Securities (E) Task Force
2024 Adopted Charges
The Valuation Analysis (E) Working Group will:
- Work with NAIC resources to assist in prioritizing and responding to issues and questions regarding principle-based reserving (PBR) and asset adequacy analysis, including actuarial guidelines or other requirements.
- Develop and implement a plan to coordinate PBR reviews/examinations and provide a confidential forum to address questions and issues.
- Review asset adequacy analysis filings for Actuarial Guideline LIII—Application of the Valuation Manual for Testing the Adequacy of Life Insurer Reserves (AG 53) on a targeted basis and coordinate with states as appropriate.
- Review long-term care (LTC) reserve adequacy filings for Actuarial Guideline LI—The Application of Asset Adequacy Testing to Long-Term Care Insurance Reserves (AG 51) on a targeted basis and coordinate with states as appropriate.
- Provide a confidential forum to address questions/issues regarding reinsurance risk transfer with respect to PBR/asset adequacy analysis, and make referrals to other NAIC regulator groups as appropriate.
- Refer questions/issues to the Life Actuarial (A) Task Force as appropriate that may require consideration of changes/interpretations to be provided in the Valuation Manual or related actuarial guidelines.
- Assist NAIC resources in the use of models and other analytical tools to support the review of PBR/asset adequacy analysis.
- Make referrals to the Financial Analysis (E) Working Group as appropriate.
- Perform other work to carry out the Valuation Analysis (E) Working Group procedures.
FOR REGULATORS
Support Information for Regulators Regarding
Principle-Based Reserves or Asset Adequacy Analysis
NAIC Support - Regulators can submit questions or request assistance from NAIC support staff relating to Principle-Based Reserves (PBR) or Asset Adequacy Analysis. Assistance that may be provided by NAIC support staff includes, but is not limited to: modeling of insurance cash flows to assist in conducting analysis and examinations; verification of PBR exclusion test calculations; and verification of the components of the PBR (Net Premium Reserve, Deterministic Reserve, Stochastic Reserve) on a sample of the company's contracts. Regulators can submit questions and requests for assistance to the NAIC support for the Valuation Analysis (E) Working Group (VAWG) at: pallison@naic.org.
VAWG Support - Regulators can also submit issues regarding PBR or Asset Adequacy Analysis directly to the VAWG. These submissions will typically relate to a significant concern regarding a PBR or Asset Adequacy Analysis review of a domestic company. However, there could be other reasons for a submission. To submit an issue to be discussed and addressed by the VAWG, regulators should complete the submission form and email the completed form to the NAIC support for the VAWG at:pallison@naic.org
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Media Inquiries
(816) 783-8909
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Jennifer Frasier
Life Examination Actuary
816-783-8834
Please see the current Committee List for a complete list of committee members.