STAT
What does NAIC stand for?
National Association of Insurance Commissioners
Regulators are more concerned with:
A. Balance Sheet
B. Income Statement
B. Income Statement
Which type of reporting is required by the NAIC?
STAT
DOUBLE JEOPARDY
Where is our office located?
What are the 4 main ratings agencies?
S&P, Moody's, Fitch, AM Best
Give 3 examples of stakeholders for GAAP Reporting?
CEO, CFO, Auditors, SEC, Ratings Agencies, Policyholders
Which method of accounting emphasizes the long term profitability of a company?
GAAP
What year was NYL established?
1845
What is NYL's RBC Ratio percentage?
507%
Who requires GAAP reporting for public companies?
FASB and SEC
What does AVR and IMR stand for?
Asset Valuation Reserve & Interest Maintenance Reserve
Name one of NYL's slogans in the last decade.
Be Good at Life
The Company You Keep
Keep Good Going
What percentage of premiums does NYL cede with reinsurance?
10 - 90%
DOUBLE JEOPARDY
Why does NYL use GAAP Accounting?
What percentage of NYL's invested assets are in Long Term Bonds?
66%
What is the difference between a mutual and public company?
Mutual - Policyholders
Public - Shareholders
What are the 3 states of domicile that we file our annual Statutory Bluebooks with?
New York, Delaware, and Arizona
What's the biggest adjustment to get from Net Income to Operating Earnings?
Removing impact of capital gains/losses
What's the difference between admitted and non-admitted assets? Which method of accounting uses what?
Assets that can be used to satisfy policyholder obligations
GAAP - Admitted and Non-Admitted
STAT - Admitted
What former arena was on the site of the current NYL Home Office?
Madison Square Garden
How many subsidiaries fall under NYLIM? (Within 3 counts)
95