; (B) with respect to each insurer identified under subparagraph (A)— (i) considers the financial capability of such insurer to satisfy its obligations under the guaranteed retirement income contract; and (ii) considers the cost (including fees and commissions) of the guaranteed retirement income contract offered by the insurer in relation to the benefits and product features of the contract and administrative services to be provided under such contract; and (C) on the basis of such consideration, concludes that— (i) at the time of the selection, the insurer is financially capable of satisfying its obligations under the guaranteed retirement income contract; and (ii) the relative cost of the selected guaranteed retirement income contract as described in subparagraph (B)(ii) is reasonable. (2) Financial capability of the insurer A fiduciary will be deemed to satisfy the requirements of paragraphs (1)(B)(i) and (1)(C)(i) if— (A) the fiduciary obtains written representations from the insurer that— (i) the insurer is licensed to offer guaranteed retirement income contracts; (ii) the insurer, at the time of selection and for each of the immediately preceding 7 plan years— (I) operates under a certificate of authority from the insurance commissioner of its domiciliary State which has not been revoked or suspended; (II) has filed audited financial statements in accordance with the laws of its domiciliary State under applicable statutory accounting principles; (III) maintains (and has maintained) reserves which satisfies all the statutory requirements of all States where the insurer does business; and (IV) is not operating under an order of supervision, rehabilitation, or liquidation; (iii) the insurer undergoes, at least every 5 years, a financial examination (within the meaning of the law of its domiciliary State) by the insurance commissioner of the domiciliary State (or representative, designee, or other party approved by such commissioner)