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Life Risk-Based Capital (E) Working Group
Financial Condition (E) Committee
Capital Adequacy Task Force

The life risk-based capital formula and instructions are handled by the Life Risk-Based Capital Working Group.

When a class of securities is being reviewed by the Invested Assets (E) Working Group, the chair of Capital Adequacy (E) Task Force, or his/her representative, will be deemed a member of the Invested Asset (E) Working Group of the Valuation of Securities (E) Task Force. The chair, or his/her representative, is charged with contributing the applicable perspective and expertise of the regulatory group to the development of NAIC regulatory guidance for the security under review by the Invested Assets (E) Working Group.

Conference Call Calendar

A full list of NAIC conference calls & interim meetings is available on the NAIC Conference Call Calendar.

There are no materials at this time.
exposure drafts

There are no exposure drafts at this time.
Recent Exposure Drafts still under Consideration (click to expand)

American Council of Life Insurers (ACLI) C-3 Phase 3 scope proposal modified by the Life Risk Based Capital (E) Working Group and released for comment at the Jan. 13, 2010, conference call of the Working Group.
Comments should be received by the close of business Tuesday, Feb. 16, 2010.

Comment letters:
American Council of Life Insurers (ACLI) Derivatives Risk Mitigation Proposal released for comment at the Dec. 4, 2009, meeting of the Life Risk Based Capital (E) Working Group.
Comments should be received by the close of business Monday, Dec. 21, 2009.

American Academy of Actuaries (AAA) C-3 instructions released for comment at the Dec. 4, 2009, meeting of the Life Risk Based Capital (E) Working Group. The Working Group extended the comment period for the C-3 Phase 2 portion of the instructions at the Jan. 13, 2010, conference call of the Working Group.

C-3 Phase 3 Comments should be received by the close of business Tuesday, Jan. 19, 2010.

C-3 Phase 2 Comments should be received by the close of business Tuesday, April 13, 2010.

Comment letters:

American Academy of Actuaries (AAA) C-3 Phase 3 proposal released for comment at the Sept. 21, 2009, meeting of the Life Risk Based Capital (E) Working Group.
Comments should be received by the close of business Friday, Oct. 23, 2009.

Please send any comments on the exposure drafts via e-mail to Dan Swanson at dswanson@naic.org (816-783-8412).
documents and resources
Life Industry RBC Results (prepared by the Actuarial & Statistical Department)
Additional Life RBC Guidance
Prior Year Life RBC Guidance

Year-end 2009 guidance for additional deferred tax assets to be reported on Life RBC page LR039 Details for Affiliated Investments adopted at the 12/17/2009 conference call of the Capital Adequacy (E) Task Force.

LR039 DTA Guidance

Year-end 2009 Life RBC additional deferred tax asset sensitivity test Excel spreadsheet. The spreadsheet would be used for any state that requests a hard copy version or e-mail version of the additional disclosure of the effect the admission of the additional deferred tax has on the RBC calculation.

LR031 DTA Sensitivity Spreadsheet

Optional year-end 2008 additional guidance for Life RBC page LR012 Miscellaneous Assets adopted at the 1/20/2009 conference call of the Capital Adequacy Task Force:

LR012 Derivatives Guidance

Optional year-end 2009 additional guidance for Life RBC page LR015 Off-Balance Sheet Items regarding the Federal Reserve's Term Asset Loan Facility (TALF) adopted at the 9/10/2009 conference call of the Capital Adequacy (E) Task Force:

LR015 TALF Guidance
Life RBC Requirements for C-3 Phase II, Market Risk

Requirements for C-3 Phase I, Interest Rate Risk
Industry Normalized Loss Ratio
Year End 2011 0.010%
Year End 2010 0.008%
Year End 2009 0.004%
Year End 2008 0.002%
Year End 2007 0.004%
Year End 2006 0.008%

Requirements for Separate Accounts that Guarantee an Index

Life Risk-Based Capital Newsletter

Fraternal Risk-Based Capital Newsletter

Related NAIC Publications
Minutes for the four most recent NAIC National Meetings are available free for meeting attendees and members. Members may access minutes via StateNet. If you do not know your User ID or password, please contact the NAIC Help Desk.

Model Laws, Regulations and Guidelines

Risk-Based Capital Forecasting
Contacts
Media queries should be directed to the NAIC Communications Division at 816-783-8909 or news@naic.org.
Dan Swanson
Sr. Insurance Reporting Analyst
Phone: 816-783-8412
Fax: 816-460-7638
Please see the current Committee List for a complete list of committee members.