- Financial Condition (E) Committee
- Accounting Practices and Procedures (E) Task Force
- Blanks (E) Working Group
- Statutory Accounting Principles (E) Working Group
- Capital Adequacy (E) Task Force
- Health Risk-Based Capital (E) Working Group
- Life Risk-Based Capital (E) Working Group
- Generator of Economic Scenarios (GOES) (E/A) Subgroup
- Longevity Risk (E/A) Subgroup
- Variable Annuities Capital and Reserve (E/A) Subgroup
- Property and Casualty Risk-Based Capital (E) Working Group
- Catastrophe Risk (E) Subgroup
- Risk-Based Capital Investment Risk and Evaluation (E) Working Group
- Examination Oversight (E) Task Force
- Electronic Workpaper (E) Working Group
- Financial Analysis Solvency Tools (E) Working Group
- Financial Examiners Coordination (E) Working Group
- Financial Examiners Handbook (E) Technical Group
- Information Technology (IT) Examination (E) Working Group
- Financial Analysis (E) Working Group
- Financial Stability (E) Task Force
- Macroprudential (E) Working Group
- Group Capital Calculation (E) Working Group
- Group Solvency Issues (E) Working Group
- Own Risk and Solvency Assessment (ORSA) Implementation (E) Subgroup
- Mutual Recognition of Jurisdictions (E) Working Group
- 不良研究所官方/American Institute of Certified Public Accountants (AICPA) (E) Working Group
- National Treatment and Coordination (E) Working Group
- Receivership and Insolvency (E) Task Force
- Receivership Financial Analysis (E) Working Group
- Receivership Law (E) Working Group
- Reinsurance (E) Task Force
- Reinsurance Financial Analysis (E) Working Group
- Restructuring Mechanisms (E) Working Group
- Risk-Focused Surveillance (E) Working Group
- Risk Retention Group (E) Task Force
- Valuation Analysis (E) Working Group
- Valuation of Securities (E) Task Force
- Financial Condition (E) Committee
- Accounting Practices and Procedures (E) Task Force
- Blanks (E) Working Group
- Statutory Accounting Principles (E) Working Group
- Capital Adequacy (E) Task Force
- Health Risk-Based Capital (E) Working Group
- Life Risk-Based Capital (E) Working Group
- Generator of Economic Scenarios (GOES) (E/A) Subgroup
- Longevity Risk (E/A) Subgroup
- Variable Annuities Capital and Reserve (E/A) Subgroup
- Property and Casualty Risk-Based Capital (E) Working Group
- Catastrophe Risk (E) Subgroup
- Risk-Based Capital Investment Risk and Evaluation (E) Working Group
- Examination Oversight (E) Task Force
- Electronic Workpaper (E) Working Group
- Financial Analysis Solvency Tools (E) Working Group
- Financial Examiners Coordination (E) Working Group
- Financial Examiners Handbook (E) Technical Group
- Information Technology (IT) Examination (E) Working Group
- Financial Analysis (E) Working Group
- Financial Stability (E) Task Force
- Macroprudential (E) Working Group
- Group Capital Calculation (E) Working Group
- Group Solvency Issues (E) Working Group
- Own Risk and Solvency Assessment (ORSA) Implementation (E) Subgroup
- Mutual Recognition of Jurisdictions (E) Working Group
- 不良研究所官方/American Institute of Certified Public Accountants (AICPA) (E) Working Group
- National Treatment and Coordination (E) Working Group
- Receivership and Insolvency (E) Task Force
- Receivership Financial Analysis (E) Working Group
- Receivership Law (E) Working Group
- Reinsurance (E) Task Force
- Reinsurance Financial Analysis (E) Working Group
- Restructuring Mechanisms (E) Working Group
- Risk-Focused Surveillance (E) Working Group
- Risk Retention Group (E) Task Force
- Valuation Analysis (E) Working Group
- Valuation of Securities (E) Task Force
The Statutory Accounting Principles (E) Working Group is responsible for developing and adopting substantive, nonsubstantive and interpretation revisions to the 不良研究所官方听Accounting Practices and Procedures Manual听(AP&P Manual). The AP&P Manual provides the basis for insurers to prepare financial statements for financial regulation purposes.
Substantive statutory accounting revisions introduce original or modified accounting principles. Substantive revisions can be reflected in an existing Statement of Statutory Accounting Principles (SSAP) or a new SSAP. Nonsubstantive statutory accounting revisions are characterized as language clarifications that do not modify the original intent of a SSAP. SSAPs are considered the highest authority (Level 1) in the statutory accounting hierarchy.
An interpretation to an existing SSAP may be developed to provide timely application, interpretation or clarification guidance. Revisions classified as an interpretation shall not amend, supersede or conflict with existing, effective SSAPs. Interpretations are considered the second highest authority (Level 2) in the statutory accounting hierarchy.
Items for consideration by the Working Group can be submitted via a听SAPWG Maintenance Agenda Submission Form (Form A)听to the 不良研究所官方 support听staff听listed on this Web page.
2025 Proposed Charges
The Statutory Accounting Principles (E) Working Group will:
- Maintain codified statutory accounting principles by providing periodic updates to the guidance that address new statutory issues and new U.S. generally accepted accounting principles (GAAP) pronouncements. Provide authoritative responses to questions of application and clarifications for existing statutory accounting principles. Report all actions and provide updates to the Accounting Practices and Procedures(E) Task Force.
- At the discretion of the Working Group chair, develop comments on exposed U.S. GAAP and International Financial Reporting Standards (IFRS) pronouncements affecting financial accounting and reporting. Any comments are subject to review and approval by the chairs of the Accounting Practices and Procedures (E) Task Force and the Financial Condition (E) Committee.
- Coordinate with the Life Actuarial (A) Task Force on changes to the AP&P Manual related to the Valuation Manual VM-A, Requirements, and VM-C, Actuarial Guidelines, as well as other Valuation Manual requirements. This process will include the receipt of periodic reports on changes to the Valuation Manual on items that require coordination.
- Obtain, analyze, and review information on permitted practices, prescribed practices, or other accounting treatments suggesting that issues or trends occurring within the industry may compromise the consistency and uniformity of statutory accounting, including, but not limited to, activities conducted by insurers for which there is currently no statutory accounting guidance or where the states have prescribed statutory accounting that differs from the guidance issued by the 不良研究所官方. Use this information to consider possible changes to statutory accounting.
2024 Adopted Charges
The Statutory Accounting Principles (E) Working Group will:
- Maintain codified statutory accounting principles by providing periodic updates to the guidance that address new statutory issues and new generally accepted accounting principles (GAAP) pronouncements. Provide authoritative responses to questions of application and clarifications for existing statutory accounting principles. Report all actions and provide updates to the Accounting Practices and Procedures (E) Task Force.
- At the discretion of the Working Group chair, develop comments on exposed GAAP and International Financial Reporting Standards (IFRS) pronouncements affecting financial accounting and reporting. Any comments are subject to review and approval by the chairs of the Accounting Practices and Procedures (E) Task Force and the Financial Condition (E) Committee.
- Coordinate with the Life Actuarial (A) Task Force on changes to the AP&P Manual related to the Valuation Manual VM-A, Requirements, and VM-C, Actuarial Guidelines, as well as other Valuation Manual requirements. This process will include the receipt of periodic reports on changes to the Valuation Manual on items that require coordination.
- Obtain, analyze, and review information on permitted practices, prescribed practices, or other accounting treatments suggesting that issues or trends occurring within the industry may compromise the consistency and uniformity of statutory accounting, including, but not limited to, activities conducted by insurers for which there is currently no statutory accounting guidance or where the states have prescribed statutory accounting that differs from the guidance issued by the 不良研究所官方. Use this information to consider possible changes to statutory accounting.
Statutory Accounting Principles (E) Working Group
Sunday, November 17, 2024
9:00 AM - 11:00 AM MT
Gaylord Rockies Hotel鈥擟olorado Ballroom A鈥擫evel 3
Public Webex Meeting
Tuesday, December 17, 2024
3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT
Expected Length of Call: 1 hr
Exposure Drafts Outstanding
Statutory Accounting Principles (E) Working Group
Last Updated November 17, 2024
Please address comment letters to Dale Bruggeman, Chair of the Statutory Accounting Principles (E) Working Group, and direct to听Julie Gann,听Robin Marcotte, Jake Stultz,听Jason Farr听补苍诲 Wil Oden.
For the status of all SAPWG agenda items, please refer to the Maintenance Agenda.听(updated August 13, 2024)
| EXPOSURES with PUBLIC COMMENT PERIOD ending NOVEMBER 8, 2024 | ||||
| 2024-10 | SSAP No. 56 | Book Value Separate Accounts | Exposed revisions present an initial draft of new guidance to detail measurement method permitted in the separate account and the process to transfer assets for cash between the general account and separate account. Responses to specific questions detailed in the exposure are requested. | |
| 2024-15 | New SAP | ALM Derivatives | Exposed agenda item requests feedback on the items and questions detailed in the 鈥渟taff recommendation.鈥 | |
| EXPOSURES with PUBLIC COMMENT PERIOD ending DECEMBER 9, 2024 | ||||
| 2024-05 | Appendix A-791 | A-791, Paragraph 2.c. | Re-exposed revisions remove the first sentence of Appendix A-791, paragraph 2.c.听Question and Answer. | |
| 2024-06 | SSAP No. 61 | Risk Transfer Analysis on Combination Reinsurance Contracts | Re-exposed revisions incorporate guidance to SSAP No. 61 that is consistent with the guidance currently in SSAP No. 62, Exhibit A Implementation Questions and Answers, question 10. Comments were听requested on specific items detailed in the agenda. | |
| 2024-26EP | SSAP No. 26 | Editorial Revisions | Exposed revisions clarify the scope of the annual audited disclosure for bonds. | |
| EXPOSURES with PUBLIC COMMENT PERIOD ending DECEMBER 16, 2024 | ||||
| 2022-14 | Issue Paper | New Market Tax Credit (NMTC) Project | Exposed issue paper听provides an historical record of the discussions of the revisions made by the NMTC Project and the intent of regulators underlying those revisions. | |
| 2023-24 |
Issue Paper |
Current Expected Credit Losses (CECL) | Exposed issue paper听maintains pre-CECL GAAP impairment guidance for the historical record. | |
| 2024-04 |
SSAP No. 103 |
Conforming Repurchase Agreements | Exposed agenda item and memorandum details听accounting, reporting and RBC guidance for repo and sec lending transactions. Comments are requested on the documented information as well as the specific noted questions. | |
| 2024-07 | Annual Statemen | Modified Co-Insurance Reporting | Exposed revisions to the annual statement and related instructions add a new part to the reinsurance Schedule S in the Life/Fraternal and Health annual statement blanks and Schedule F in the Property/Casualty and Title annual statement blanks. | |
| EXPOSURES with PUBLIC COMMENT PERIOD ending JANUARY 31, 2025 | ||||
| 2023-28 | Schedule BA | Collateral Loan Reporting | Re-exposed proposed Schedule BA and AVR reporting lines for collateral loans to allow for concurrent review with the exposed blanks proposal (2024-19BWG). | |
| 2024-20 |
SSAP No. 1 Note 5L |
Restricted Asset Clarification | Exposed disclosure |
|
| 2024-21 | SSAP No. 97 |
Investment Subsidiaries |
Exposed a concept agenda item requesting comments on options to clarify accounting guidelines and resulting reporting impacts for investment subsidiaries. | |
| 2024-22 | SSAP No. 104 | Stock Compensation | Exposed revisions to adopt with modification ASU 2024-01 Compensation鈥擲tock Compensation (Topic 718), Scope Application of Profits Interest and Similar Awards. | |
| 2024-23 | SSAP No. 86 | Derivative Premium Clarification | Exposed revisions to ensure consistent terminology for derivative financing premiums and to further clarify that derivative premium costs shall not be recognized as a realized gain/loss. | |
| 2024-24 | Medicare Part D 鈥 Prescription Payment Plan | Exposed tentative INT 24-02 to provide guidance in response to changes for the Medicare Part D program for the prescription payment plan as well as minor edits to INT 05-05: Accounting for Revenues Under Medicare Part D Coverage. | ||
| 2024-25 | SSAP No. 16 | Electronic Data Processing & Software | Exposed revisions to clarify references to the U.S. GAAP Accounting Standards Codification (ASC) | |
|
EXPOSURES DEFERRED for SUBSEQUENT INTERIM or NATIONAL MEETINGS |
||||
|---|---|---|---|---|
|
SSAP No. 41 |
Surplus Note Accounting 鈥 Referral from the Reinsurance (E) Task Force |
The Statutory Accounting Principles (E) Working Group deferred discussion of this agenda item for a subsequent call or meeting. |
||
|
SSAP No. 68 |
ASU 2014-17, Business Combinations, Pushdown Accounting |
The Statutory Accounting Principles (E) Working Group deferred discussion of this agenda item for a subsequent call or meeting. |
||
|
SSAP No. 68 SSAP No. 97 |
Attribution of Goodwill | The Statutory Accounting Principles (E) Working Group deferred discussion of this agenda item for a subsequent call or meeting. | ||
|
SSAP No. 62 |
Retroactive Reinsurance Exception |
The Statutory Accounting Principles (E) Working Group deferred discussion of this agenda item for a subsequent call or meeting. |
||
| 2023-31 | SSAP No. 58 | Updates from Model 630 Mortgage Guaranty Insurance | Exposed intent to review the revisions to the Mortgage Guaranty Insurance Model Act (#630) for incorporation into SSAP No. 58鈥擬ortgage Guaranty Insurance and Appendix A-630 as applicable. The exposure requests input on an effective date. | |
Insurance Topics
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Contacts
Media Inquiries
(816) 783-8909
news@naic.org
Julie Gann
Assistant Director - Solvency Policy
816-783-8966
Robin Marcotte
Senior Manager II, Accounting Policy
816-783-8124
Jake Stultz
Manager II 鈥 Accounting Policy
816-783-8481
Jason Farr
Senior SCA Valuation and Accounting Policy Advisor
816-783-8132
William Oden
Senior Technical Accounting Policy Advisor
816-783-8482
Please see the current Committee List for a complete list of committee members.