Custodian Depository

The State of New Mexico’s Office of the Superintendent of Insurance (OSI) is seeking a qualified, financially solvent trust company or bank to act as the custodian/depository for the statutory insurance‑company deposit pool. The selected custodian will hold and safeguard a securities‑only portfolio valued at approximately $586 million, provide an online portal for roughly 1,800 insurers, deliver required data feeds and monthly transaction reporting, and execute buy/sell instructions from OSI or its designee. The contract is a single‑award, fixed‑price 10‑year agreement beginning July 1 2026, with fees locked for the entire term and no subcontracting allowed without prior approval. • Hold and protect a $586 M securities portfolio for 1,796 New Mexico insurers. • Provide secure, multi‑tenant online portal access and at least one required data feed. • Perform transaction processing, monthly reporting, and comply with statutory security lists (CUSIPs). • Fixed custodial fee schedule for the full 10‑year term; fees paid by each insurer. • Must be a New Mexico‑based trust company or bank with trust powers, no subcontractors, and must meet financial‑stability and mandatory specification requirements.