SVO Capital Markets
SVO Capital Markets

The Capital Markets Bureau is located in the NAIC’s New York City office. Its mission is to support state insurance departments and other NAIC staff on matters affecting the regulation of investment activities at state regulated insurance companies.

The Capital Markets Bureau monitors developments, trends and activity in the financial markets generally, and specifically with respect to the insurance industry.

  1. Issues that are of interest to state insurance regulators are reported periodically through regularly scheduled publications and through ad hoc reports.
  2. The group does independent research on investment issues and responds to requests from state insurance regulators.
  3. The group assists in examinations, through analysis of investment portfolios, discussions with examiners and, as requested, participates in on-site examinations.

The group provides other training, education and analysis support. It participates in discussions with other financial regulators and assists other NAIC staff in those efforts.

The Capital Markets Bureau supports Financial Regulatory Services and Insurance Analysis & Information Services, to identify potentially troubled insurers and market trends that may have a material impact on the investment profile of the insurance industry as a whole. The group also works collaboratively with Government Relations staff developing comment letters, briefings and related materials; serving as a technical resource to Congressional/federal/state officials regarding NAIC policy positions on insurance financial regulation and capital markets.

The Capital Markets Bureau takes an active role with respect to issues concerning the Valuation of Securities Task Force and the Invested Assets Working Group. In addition, the group supports the Statutory Accounting Principles Working Group, the Emerging Accounting Issues Working Group, and the Capital Adequacy Task Force, along with its working groups, as well as the work of other NAIC groups to the extent that their work is impacted by investment issues.

The Capital Markets Daily Newsletter is an email product distributed at the conclusion of each day. It provides brief summaries of financial market performance and the developments that impacted it. It is supplemented from time to time with weekly summaries that aggregate significant items that affected the insurance industry and state insurance regulation. Capital Markets Special Reports focus on more detailed and specific analysis of issues that have the potential of impacting insurance company investment portfolios. CLICK HERE to subscribe.

Investment Analysis Reports: As requested by state insurance departments, the Capital Markets Bureau analyzes the investment portfolios of state regulated insurance companies. A written report is provided, focusing on issues that may be of concern, specifically on those factors that may increase volatility within the insurer’s portfolio or which may have an impact on the insurer’s solvency. In addition, the group can provide additional on-site support on investment issues.

Any state insurance department that is interested in such support should contact the Capital Markets Bureau by sending an email to Edward Toy at