Description: The article focuses on the need to develop a strategy for investing surplus resulting from the buildup of significant excess capital. The author discusses three principles on which a company can base its surplus investment strategy, including the risk/return preference of the client, attribution of surplus to the products and an investment strategy based on all company risks.

Description: Explains the more granular breakout of bond RBC factors proposed to the NAIC. Evaluates alternative asset allocation choices for insurers under the new rules.