Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

Insurance: May 2023 SAPWG call

Issues and Trends | May 2023

KPMG reports on actions taken by the Statutory Accounting Principles Working Group on the May 2023 conference call.


  • All insurance companies

Key impacts

The Statutory Accounting Principles Working Group (SAPWG) adopted the following guidance:

  • The effective date of INT 22-02 was extended through August 16, 2023. The INT provides an exception to insurers when assessing the effects on the insurer’s valuation allowance and deferred tax assets from the Corporate Alternative Minimum Tax.

SAPWG exposed revisions to the following guidance:

  • SSAP No. 34 to further clarify disclosures and incorporate a practical expedient for the paid-in-kind interest aggregate disclosures.
  • SSAP Nos. 43R and 48 to clarify the scope and reporting of residual interests and residual security tranches.

    Report contents

    • Meeting highlights
    • Accounting highlights
    • KPMG Financial Reporting View
    • Acknowledgments

    Download the document

    Issues & Trends: May 2023 SAPWG Call

    Download PDF

    Explore more

    Accounting Research Online

    Access our accounting research website for additional resources for your financial reporting needs.

    Thank you!

    Thank you for contacting KPMG. We will respond to you as soon as possible.

    Contact KPMG

    Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

    By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

    An error occurred. Please contact customer support.

    Job seekers

    Visit our careers section or search our jobs database.

    Submit RFP

    Use the RFP submission form to detail the services KPMG can help assist you with.

    Office locations

    International hotline

    You can confidentially report concerns to the KPMG International hotline

    Press contacts

    Do you need to speak with our Press Office? Here's how to get in touch.