Edward Toy

Edward Toy

Investment Specialist
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Primary Focus

Investment Specialist/Practice Lead – Investments
Financial Examinations
Financial Analysis

Ed is an investment specialist with over 30 years of experience working in the capital markets area. He has been working with state regulators for over 25 years, most recently serving as the Senior Technical Policy Advisor, Capital Markets & Macro Prudential Surveillance for the National Association of Insurance Commissioners (NAIC). Ed founded and held the position of Director of the NAIC Capital Markets Bureau. In that capacity, he developed tools and reports to support state regulators in the analysis of individual insurer and industry-wide investment exposures. As lead Investment Specialist at RRC, he provides investment and risk management consulting services to state insurance departments.

Ed Toy Bio Pic
Thought Leadership

While at the NAIC, Ed was the chair of the Macro-prudential Policy & Surveillance Working Group of the International Association of Insurance Supervisors, which had primary responsibility for the Global Insurance Markets Report and the Key Insurance Risks & Trends Survey. In addition, he supported the NAIC’s representative to the Financial Stability Oversight Council and was a member of Financial Stability Oversight Council FSOC’s Systemic Risk Committee. Ed is a frequent speaker on economic, capital markets and investment related topics at various trade association events.

Line of Business Expertise

  • Life and Annuity, including Fraternal Life Companies
  • Health/HMO including small and large group medical
  • Property & Casualty
  • Reinsurance
  • Title
Education and Qualifications

  • Masters of Business Administration
  • Corporate Finance and International Financial Management
  • Wharton School, University of Pennsylvania
  • Bachelor of Arts, Government, Dartmouth College