N.M. Admin. Code § 13.9.21.10 - VALUATION USED FOR THE PURPOSES OF CALCULATIONS
For the purposes of both calculating the required level of primary security pursuant to the actuarial method, as described in 13.9.21.9 NMAC, and determining the amount of primary security and other security, as applicable, held by or on behalf of the ceding insurer, the following shall apply:
A. For assets, including any such assets held
in trust, that would be admitted under the NAIC Accounting Practices and
Procedures Manual if they were held by the ceding insurer, the valuations are
to be determined according to statutory accounting procedures as if such assets
were held in the ceding insurer's general account and without taking into
consideration the effect of any prescribed or permitted practices;
and
B. for all other assets, the
valuations are to be those that were assigned to the assets for the purpose of
determining the amount of reserve credit taken. In addition, the asset spread
tables and asset default cost tables required by VM-20 shall be included in the
actuarial method if adopted by the NAIC's Life Actuarial (A) Task Force no
later than the Dec. 31st on or immediately preceding the valuation date for
which the required level of primary security is being calculated. The tables of
asset spreads and asset default costs shall be incorporated into the actuarial
method in the manner specified in VM-20.
Notes
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