Insurance: February 2024 SAPWG call
Issues & Trends | March 2024
KPMG reports on actions taken by the Statutory Accounting Principles Working Group on the February 2024 conference call.
Applicability
- All insurance companies
Key impacts
The Statutory Accounting Principles Working Group adopted the following guidance.
- Revisions to SSAP No. 21R to add a disclosure to expand the reporting lines on Schedule BA to detail admitted and nonadmitted collateral loans based on the type of collateral that secures the loan.
SAPWG exposed revisions to the following guidance.
- SSAP 21R to incorporate the effective yield with a cap method to measure residuals, with a practical expedient that allows the use of the cost recovery method.
- Reporting lines in Schedule BA for collateral loans.
- Schedule BA instructions to further define examples of investments that are reported by type of investment on Schedule BA based on underlying characteristics of assets.
Download the document:
NAIC February 2024 SAPWG Call
Download PDFExplore more
Resource
Insurance: September 2023 SAPWG call
KPMG reports on an action taken by the Statutory Accounting Principles Working Group on the September 2023 conference call.
Resource
Insurance: NAIC 2023 Summer meeting
We report on actions and discussions about ongoing projects on conference calls and at the NAIC 2023 Summer meeting.
Resource
Insurance: May 2023 SAPWG call
KPMG reports on actions taken by the Statutory Accounting Principles Working Group on the May 2023 conference call.
Resource
Insurance: NAIC 2023 Spring meeting
KPMG reports on actions taken and discussions held about ongoing projects on conference calls and at the Spring 2023 meeting of the National Association of Insurance Commissioners.
Subscribe to stay informed
Receive the latest financial reporting and accounting updates with our newsletters and more delivered to your inbox.
Accounting Research Online
Access our accounting research website for additional resources for your financial reporting needs.