Securities Valuation Office (SVO)

The NAIC's Securities Valuation 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.

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.

 

Filing Instructions & Forms:

• SVO Frequently Asked Questions


• VISION Application (https://vision.naic.org) - The on-line system used by insurance companies and their third part administrators to file securities with the NAIC's SVO.
  


• SVO Important Updates This page contains all critical SVO time-lines as well as the most recent fixes and enhancements to the ISIS system.


• AVS/ISIS Information Pertinent ISIS information including ATF, Filing Exempt and AVS documentation and critical database listings.


• Purposes & Procedures Manual of the SVO This publication is the primary source for insurers to comply with the NAIC's reporting requirements.


• Qualified U.S. Financial Institutions List (“QUSFI”) - is a list issuers of letters of credit that can be used as collateral in reinsurance arrangements. Financial Institutions interested in applying should click on the link above for the application form or contact the SVO directly at SVOInquiry-FI@naic.org or 212-398-9000 for further information.
  • Frequently Asked Questions about the Application Process for the Qualified U.S. Financial Institutions List
    
  • How to Find the QUSFI List on AVS+
  • QUSFI List-As of May 1, 2019


• Report Field Definitions


• Regulatory Treatment Analysis Service (RTAS) Application
  Contact the SVO directly at SVOInquiryDesk@naic.org or
  212-398-9000 for further information on RTAS applications.
  The RTAS process permits insurance companies and other persons to ascertain the analytical position the SVO would take (or the recommendations it would make to regulators) with respect to credit, and other investment risks embedded in a security and the related regulatory accounting and reporting treatment.


• Security Filing Applications and Forms  for the SVO This page includes links to additional filing applications and forms that may be required by the SVO.


• Automated Valuation Service (AVS)  - the NAIC's Valuation of Securities database containing more than 250,000 securities from over 40,000 issuers is available through AVS.


• NAIC Publicly Traded Securities Listing Definitions
  
  
• Valid Designation, Administrative Symbol and Market Indicator Combinations
  
  
• Counterparty Annual Maturity Schedule