National Association of Insurance Commissioners Renames New York Office
Apr 12, 2011
The following news release was issued by the National Association of Insurance Regulators on April 12, 2011:
NAIC NY Office Name Change Reflects Expanded Services to Regulators, Public
Capital Markets and Investment Analysis Office Adds Staff and Services
WASHINGTON, D.C. (April 12, 2011) – The National Association of Insurance Commissioners (NAIC) has changed the name of its New York office. Formerly known as the Securities Valuation Office, the New York location has been renamed the Capital Markets and Investment Analysis Office.
“The new name reflects the expansion of regulatory support services provided by the NAIC in its New York office,” said Dr. Therese M. (Terri) Vaughan, NAIC Chief Executive Officer. “The Capital Markets and Investment Analysis Office will take on an increased role in assisting states to monitor investment risk. It will also serve as a center of expertise to help federal policymakers understand the interaction between the insurance sector and the broader capital markets.”
As part of its objective to broaden services and significantly enhance offerings in training, education and analysis support, the office will release a series of industry financial performance reports to the public. Developed from insurer statutory filings, these reports are intended to provide the public with information on developing trends in the insurance industry.
Additionally, the office will provide Capital Markets Weekly Special Reports, which are available on the NAIC website. 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.
The NAIC’s Securities Valuation Office will remain in place as a division within the organization and will continue to oversee the day-to-day credit quality assessment and valuation of securities owned by state regulated insurance companies. The office will continue working closely with the NAIC’s Government Relations Office in Washington, D.C. on pending state and federal legislation on insurance financial regulation.
Click HERE to view the Capital Markets and Investment Analysis page.