Capital Markets & Investment Analysis Office
One New York Plaza  |  Suite 4210  |  New York, NY 10004
Phone: 212.398.9000  |  Fax: 212.382.4207

NAIC STORE MEETINGS & EVENTS EDUCATION & TRAINING

Securities Valuations Office (SVO)

The NAIC's Securities Valuations Office (SVO), one of the three groups within the Capital Markets & Investment Analysis Office, is responsible for the day-to-day credit quality assessment and valuation of securities owned by state regulated insurance companies. Insurance companies report ownership of securities to the Capital Markets and Investment Analysis Office when such securities are eligible for filing on Schedule D, DA or BA of the NAIC Financial Statement Blank.

The SVO conducts credit analysis on these securities for the purpose of assigning an NAIC designation and/or unit price. These designations and unit prices are produced solely for the benefit of NAIC members who may utilize them as part of the member's monitoring of the financial condition of its domiciliary insurers.
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Unlike the ratings of nationally recognized statistical rating organizations, NAIC designations are not produced to aid the investment decision making process and therefore are not suitable for use by anyone other than NAIC members.

The SVO group primarily support the Valuation of  Securities Task Force, a subgroup of the Financial Condition (E) Committee, but also supports other Task Forces and  Working Groups that involve investments.

Contacts:

Please contact the SVO  for all general questions on SVO processes, information and filings: SVOInquiryDesk@naic.org or call 212.398.9000

SVO Contacts & Responsibilities

For specific issues or concerns about the SVO's policies or staff please contact Charles A. Therriault, Director, Securities Valuation Office, at CTherriault@NAIC.org

Filing Instructions & Forms:More...

Structured Securities Group (SSG)

The NAIC's Structured Securities Group (SSG), another group within the Capital Markets & Investment Analysis Office, is responsible for the analysis of Residential Mortgage Backed Securities (RMBS) and Commercial Mortgage Backed Securities (CMBS) owned by state regulated insurance companies subject to Statement of Statutory Accounting Principles No. 43 Revised - Loan-Backed and Structured Securities. Insurance companies report ownership of securities to the Capital Markets and Investment Analysis Office when such securities are eligible for filing on Schedule D or DA of the NAIC Financial Statement Blank.

The SSG group primarily support the Valuation of  Securities Task Force, a subgroup of the Financial Condition (E) Committee, but also supports other Task Forces and  Working Groups that involve investments.

Contacts:

Please contact the SSG at SSGInquiryDesk@naic.org  for general information. 

For specific issues or concerns please contact Eric Kolchinsky, Director, Structured Securities Group , at 212.386.1943.or EKolchinsky@NAIC.org

Capital Markets Bureau (CMB)

The Capital Markets Bureau is located in the NAIC's Capital Markets & Investment Analysis Office in New York City. 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 Daily Newsletter & Special Reports:

 

Capital Markets Special Reports are available to regulators and the public. These reports focus on detailed and specific analysis of issues that have the potential of impacting insurance company investment portfolios.

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The Capital Markets Daily Newsletter is a REGULATOR ONLY email distributed at the conclusion of each day. It provides brief summaries of financial market performance and the developments that impacted it. It is occasionally supplemented with additional summaries that aggregate significant items affecting insurers and regulators. Regulators receiving this newsletter will also receive the Capital Markets Special Reports.

       Subscribe [Regulator Only]

 

Investment Analysis: As requested by state insurance regulators, the Capital Markets Bureau provides a number of services – (1) Investment Analysis Reports; (2) Detailed Asset Reviews; (3) Derivatives Use Plan Reviews; (4) On-Site Examination Support; and (5) On-Site Investment Seminars and Training. States may request an Investment Analysis Report.

  Investment Analysis Report Request   [States only]

 

For other support and services, state insurance departments should contact the Capital Markets Bureau by sending an email to Edward Toy at etoy@naic.org.

CLICK HERE for a more complete description of Capital Market Bureau services.

 

Related Links:

SVO and SSG Determinations provide an anchor to a variety of regulatory mechanisms such as statutory accounting, Annual Statement Instructions and Risk-Based Capital. The links below are to NAIC Committees, Task Forces and Working Groups that deal with these issues.