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Insurance: Statutory Reporting – February 2023

Issues and Trends | February 2023

We summarize new and revised statutory accounting standards for 2022 and 2023 financial reporting by insurers.


  • All insurance companies

Key impacts

Effective for 2022 reporting:

  • SSAP Nos. 19 and 73 clarified that when a lease terminates early, the amortization of leasehold improvements ceases and any remaining unamortized leasehold improvement balance is expensed. The revisions included an exclusion for health care delivery assets.
  • SSAP Nos. 25 and 43 clarified the identification and reporting of affiliated transactions and added disclosures in the Annual Statement investment schedules to identify investments held that involve related parties.
  • SSAP 43R clarified that residual tranches or interests are recorded at the lower of amortized cost or fair value and reported on Schedule BA. Revisions are effective December 31, 2022. Early adoption was permitted.
  • INT 22-02 provided an exception to insurers from assessing the effects of the insurer’s valuation allowance and deferred tax assets from the Corporate Alternative Minimum Tax through the Q1 2023. It also provided subsequent event exceptions.

Effective for 2023 reporting:

  • SSAP No. 86 adopted, with modification, US GAAP guidance to determine hedge effectiveness and guidance about portfolio and partial-term fair value hedges. Revisions are effective January 1, 2023 with early adoption permitted.

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Insurance Statutory Reporting

We summarize new and revised statutory accounting standards for 2022 and 2023 financial reporting.

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