Spring 2025 SAPWG calls
Issues & Trends | June 2025
We report on actions and discussions of the Statutory Accounting Principles Working Group on the April and May conference calls.
Applicability
- All insurance companies
Key impacts:
The Statutory Accounting Principles Working Group (SAPWG) adopted revisions to the following guidance:
- SSAP No. 1 and the Annual Statement, to expand disclosures for restricted assets to identify whether the modified coinsurance and funds withheld assets are related to or affiliated with the reinsurer.
SAPWG exposed revisions to the following guidance:
- SSAP No. 37 to add qualifying investment trusts that hold residential mortgage loans to the scope of SSAP No. 37 for reporting on Schedule B, Mortgage Loans and disclosures in the financial statements.
SAPWG discussed revisions to the following guidance:
- SSAP No. 61 to add guidance from SSAP No. 62, Exhibit A Q&A, Question 10, requiring risk transfer to be evaluated in the aggregate for contracts with interrelated features.
Report contents:
- Meeting highlights
- Accounting highlights
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Spring 2025 SAPWG calls
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Meet our team
Olga Roberts
Managing Director, Dept. of Professional Practice, KPMG US
Leigh Wilson Gasparovic
Partner, Dept. of Professional Practice, KPMG US
Olga Roberts
Managing Director, Dept. of Professional Practice, KPMG US
Leigh Wilson Gasparovic
Partner, Dept. of Professional Practice, KPMG US