The U.S. life insurance industry’s risk-based capital ratio improved from 277 percent to 366 percent in 2001, thanks to two changes enacted in 2001 by the National Association of Insurance Commissioners, according to Fitch Ratings. Accounting codification was adopted as of Jan. 1, 2001, and the RBC formula was modified effective Dec. 31, 2001. Codification compiled statutory accounting guidance into a single source and developed guidance where