Insights

Fresh thinking and actionable insights that address critical issues your organization faces.

Learn more

Resources

Services

KPMG's multi-disciplinary approach and deep, practical industry knowledge help clients meet challenges and respond to opportunities.

Services to meet your business goals

Technology Alliances

KPMG has market-leading alliances with many of the world's leading software and services vendors.

View all Alliances

Industries

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
Relevant Results
Sorry, there are no results matching your search.
Autocomplete suggestions are available. Use up and down arrows to review and enter to select.
See more results

Insurance: Statutory Reporting – June 2024

Issues & Trends | June 2024

We summarize new and revised statutory accounting standards for 2024 and 2025 financial reporting by insurers.

Download PDF
Share

Applicability

  • All insurance companies

Key impacts

Effective for 2024 reporting:

  • SSAP No. 7 revised the Annual Statement Instructions to remove guidance that permits the allocation of non-interest related losses to IMR and to clarify that these non-interest related losses should be allocated to AVR.
  • SSAP No. 21R added disclosures of the total amount of collateral loans and collateral loans admitted and nonadmitted by qualifying investment type.

Effective for 2025 reporting:

  • SSAP No. 2R further restricted the investments that are reported as cash equivalents or short-term investments.
  • SSAP Nos. 26R, 43R and other SSAPs added guidance for the principles-based bond definition.
  • SSAP No. 21R added the earned yield with a cap method (the Allowable Earned Yield method) to measure residual tranches or interests, with a practical expedient that allows the use of the cost recovery method.
  • SSAP Nos. 34, 48, 93 and 94R updated guidance for tax credit investments, by expanding the scope of SSAP 93 and 94R, and adding consistency between SSAPs.

Download the document:

Statutory Reporting - June 2024

Download PDF

Explore more

Resource
Webcast Replay Webcast Upcoming Listen Now

Insurance: February 2024 SAPWG call

KPMG reports on actions taken by the Statutory Accounting Principles Working Group on the February 2024 conference call.

Read more
Resource
Webcast Replay Webcast Upcoming Listen Now

Insurance: NAIC 2024 Spring meeting

We report on actions and discussions on conference calls, and at the NAIC 2024 Spring meeting.

Read more
Resource
Webcast Replay Webcast Upcoming Listen Now

Insurance: May 2024 SAPWG call

KPMG reports on actions taken by the Statutory Accounting Principles Working Group on the May 2024 conference call.

Read more

Accounting Research Online

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

Access ARO

KPMG. Make the Difference.


Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

© 2025 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

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.

Search now!

Submit RFP

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

Submit

Office locations

View locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Learn more

Press contacts

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

Contact

Headline