A regulatory unit that evaluates the financial strength of U.S. insurers' holdings is now posting its information online to help investment professionals and advisors assisting insurance companies.
The Securities Valuation Office in New York launched a public database listing the SVO rating of insurer-owned securities.
SVO is the securities rating arm of the National Association of Insurance Commissioners, Kansas City, Mo. Its database shows whether a publicly rated security is subject to regulatory guidance other than as indicated by its credit rating assigned by one or more public rating organizations.
All of the securities listed in the public database are rated by an NAIC ARO (a credit rating organization whose services are purchased by the NAIC in connection with the administration of an insurer filing exemption) and designated or classified by the SVO.
This public database was one of five projects adopted by the NAIC's Valuation of Securities (E) Task Force as part of an initiative to improve the transparency of regulatory processes used to determine regulatory guidance for new securities. The project required a year of development of both systems and software.
The NAIC cautioned that information on the site is not for use by individual or institutional investors when considering whether to purchase a security.
The site can be accessed at HYPERLINK "http://isis.naic.org/publiclyrated/SVOSecurities.do"http://isis.naic.org/publiclyrated/SVOSecurities.do.
The chart lists the security's cusip number; NAIC designation ranging from a highly rated 1 to a low of 6; the security classification; the date it was added to the Valuation of Security database; and the date, if any, when the designation was changed.
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