Insurance: September 2023 SAPWG call
Issues & Trends | October 2023
KPMG reports on an action taken by the Statutory Accounting Principles Working Group on the September 2023 conference call.
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Applicability
- All insurance companies
Key impacts
The Statutory Accounting Principles Working Group adopted the following guidance:
- Revisions to SSAP Nos. 43R and 48 to clarify the scope and reporting of residual interests and residual security tranches. Revisions are effective December 31, 2023.
- Revisions to INT 23-02 to provide guidance on how insurers assess the effects corporate alternative minimum tax (CAMT) and provide disclosures for the third quarter 2023. INT 23-02 will automatically nullify on November 16, 2023.
- INT 23-03 to provide guidance on assessing the effects of CAMT for periods on or after the 2023 year-end.
Report contents
- Meeting highlights
- Accounting highlights
- KPMG Financial Reporting View
- Acknowledgments
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September 2023 SAPWG Call
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Insurance: NAIC 2023 Summer meeting
We report on actions and discussions about ongoing projects on conference calls and at the NAIC 2023 Summer meeting.
Insurance
Guidance and publications including discussion and analysis of significant issues related to the insurance industry.