Insurance: Statutory Reporting – September 2025

Effective for 2025 reporting:

• SSAP No. 1 (1) added restricted asset disclosure for modified coinsurance (Modco) and funds withheld assets reported on a cedent’s financial statements and a reconciliation between the restricted assets in the disclosure and those reported in the general interrogatories and (2) expanded disclosures for restricted assets to identify whether the Modco and funds withheld assets are related to or affiliated with the reinsurer.
• SSAP No. 2 further restricted the investments that are reported as cash equivalents or short-term investments.
• SSAP No. 26 clarified the granularity of the disclosure of book adjusted carrying values, fair values, and unrealized gains or losses of bonds.
• SSAP No. 21 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 94 updated guidance for tax credit investments by expanding the scope of SSAP Nos. 93 and 94, and adding consistency between SSAPs.
• INT 05-05 and INT 24-02 added guidance for the Medicare Part D Prescription Payment Program.
• INT 23-01 extended its effective date to December 31, 2026, clarified guidance, and established an additional current-period admittance limit of net negative interest maintenance reserve.

Effective for 2026 and later reporting:

• SSAP No. 56 updated recognition and measurement guidance for the transfer of assets in exchange for cash between the general account and book value separate accounts.