Committees & Activities

Statutory Accounting Principles Working Group 
Financial Condition (E) Committee
Accounting Practices and Procedures Task Force

The Statutory Accounting Principles (E) Working Group is responsible for developing and adopting substantive and nonsubstantive revisions to the Statements of Statutory Accounting Principles (SSAPs). Statutory accounting principles provide the basis for insurers to prepare financial statements for financial regulation purposes, and SSAPs are considered level 1 (highest authority) in the statutory accounting hierarchy.

Substantive statutory accounting revisions introduce original or modified accounting principles. Substantive revisions can be reflected in an existing SSAP or a new SSAP. Nonsubstantive statutory accounting revisions are characterized as language clarifications that do not modify the original intent of an SSAP.

Items for consideration by the Working Group can be submitted via a SAPWG Maintenance Agenda Submission Form (Form A) to the NAIC staff support listed on this web page.

The Emerging Accounting Issues (E) Working Group is responsible for responding to questions on the application, interpretation and clarification of statutory accounting principles. Additional information on this Working Group can be obtained via the following link:

2015 Charges

  • Maintain codified statutory accounting principles by providing periodic updates to the guidance that address new statutory issues and new GAAP pronouncements as they develop.—Essential and Ongoing
  • At the discretion of the chair, comment on exposed GAAP pronouncements affecting financial accounting and reporting.—Essential
  • Report its findings relative to these developing issues to the Accounting Practices and Procedures (E) Task Force.—Essential
  • Contribute the perspective and expertise of the Working Group via the chair, or his/her representative, to the development of NAIC regulatory guidance for any security under review by the Invested Assets (E) Working Group of the Valuation of Securities (E) Task Force. (Upon notice that a class of securities has been placed under regulatory review, the chair of Statutory Accounting Principles (E) Working Group, or his/her representative, will be deemed a member of the Invested Assets (E) Working Group.)—Essential
  • Provide comments on issues related to evaluating and/or implementing to International Financial Reporting Standards (IFRS) for possible U.S. statutory accounting use and provide input on the solvency modernization project as it relates to accounting and reporting issues.—Essential and Ongoing
  • Coordinate with the Life Actuarial (A) Task Force on changes to the Accounting Practices and Procedures Manual related to the Valuation Manual VM-A Requirements and VM-C Actuarial Guidelines.—Essential and Ongoing
  • Develop the proposed definition for “Primary Security” for use in the Principle-Based Reserving Implementation (EX) Task Force’s future consideration of a proposed XXX/AXXX Reinsurance Model Regulation.—Essential
  • Develop a Note to the Audited Financial Statements regarding compliance with the XXX/AXXX Reinsurance Model Regulation—Essential

The following Subgroup reports to the Statutory Accounting Principles Working Group:

Exposure Drafts Outstanding
Statutory Accounting Principles Working Group
Last Updated March 31, 2015

  • Agenda item 2014-28 has a shortened comment deadline of April 30.

  • Comment deadline for all other exposures is May 21.
Please address comment letters to Dale Bruggeman, Chair of the Statutory Accounting Principles (E) Working Group, and direct to and

Ref No.

Issue Paper/ SSAP No./ Appendix





SSAP No. 62R

Asbestos and Pollution Reinsurance Reporting Exception


Nonsubstantive revisions reduce the provision for reinsurance liability in Schedule F related to an asbestos and environmental reinsurance reporting exception for retroactive counterparties.

Shortened Comment Deadline – April 30.




SSAP No. 26

Investment Classification Review

  1. Security Definition

  2. Contractual Amount of Principal Due

  3. ETF Analysis (Dec. 31, 2013)

  4. Non-Bond Definitions

  5. ETF Analysis (Dec. 31, 2014)

Exposed four discussion documents related to investment classifications under SSAP No. 26.


SSAP No. 93

ASU 2014-01 Accounting for Investments in Qualified Affordable Housing Projects


Nonsubstantive revisions to adopt with modification ASU 2014-01.

Changes from prior exposure explicitly identify that the proposed revisions effectively continue the existing balance sheet treatment and gross income statement reporting.



SSAP No. 41

Holders of Surplus Notes


Substantive revisions for holders of non-rated surplus notes and surplus notes with a designation below NAIC 1.



SSAP No. 54

Medicare Advantage and Medicare Part D Risk Adjustment Premium Receivables and Payables


Nonsubstantive revisions to clarify the reporting of premium adjustments as a “premium and considerations receivable” with a corresponding entry to “written premiums”.



SSAP No. 61R

Disclosure Related to PBR Framework Implementation


Nonsubstantive revisions to SSAP No. 61R to incorporate a disclosure related to an audited note on compliance with XXX/AXXX Reinsurance Model Regulation or Actuarial Guideline 48, or state variation of the standard.



SSAP No. 25

ASU 2013-06 – Not-For-Profit Entities – Services Received from Personnel of Affiliate


Nonsubstantive revisions to reject ASU 2013-06, but incorporate references and an enhanced disclosure for transactions involving services between affiliates.



SSAP No. 54

ASU 2010-23 – Health Care Entities, Measuring Charity Care


Nonsubstantive revisions to adopt with modification ASU 2010-23.



SSAP No. 86



Substantive exposure requesting comments on short sales transactions, including whether such transactions should be permitted within statutory accounting.



SSAP No. 22

Sale-Leasebacks with Nonadmitted Assets


Substantive exposure requesting comments on issues with sale-leaseback transactions, with a request for specific comments on the three items noted within the agenda item.



SSAP No. 26 & SSAP No. 37

Prepayment Penalties and Amortization on Callable Bonds


Nonsubstantive revisions to 1) Require prepayment penalties and acceleration fees to be reported as realized capital gains; 2) Clarify the yield-to-worst concept for continuously callable bonds; and 3) Revise the guidance for bonds with make whole call provisions.

Illustrations are included in the agenda item to show the application of proposed guidance.



Various SSAPs

SSAP Title Revisions


Nonsubstantive revisions to modify (shorten) current SSAP titles.


2015-06 SSAP No. 24

ASU 2015-01: Income Statement – Extraordinary and Unusual Items

Revised SSAP No. 24


Nonsubstantive revisions to adopt with modification ASU 2015-01. Modifications would continue to prohibit separate reporting.

(Note – Agenda items 2015-06 and 2015-07 both propose revisions to SSAP No. 24. A revised SSAP No. 24 has been prepared to collectively show the changes from both agenda items.)


2015-07 SSAP No. 24 & SSAP No. 90

ASU 2014-08 – Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity

Revised SSAP No. 24


Nonsubstantive revisions to adopt with modification ASU 2014-08. Modifications would continue to prohibit separate reporting, prohibit gain recognition until disposal transaction is complete, and not require all GAAP disclosures.

(Note – Agenda items 2015-06 and 2015-07 both propose revisions to SSAP No. 24. A revised SSAP No. 24 has been prepared to collectively show the changes from both agenda items.)


2015-08 SSAP No. 97

SSAP No. 97 – Nonadmitted Assets and Application of the SAP Guidance


Substantive exposure requests comments on specific issues and discussion options included in the agenda item.


2015-09 Various SSAPs

Technical edits to APP Manual


Nonsubstantive revisions to incorporate technical edits. The edits include modifications to the SSAP No. 106 ACA fee disclosure to ensure consistent reporting.


2015-11 SSAP No. 40R

Wholly-Owned Real Estate – Mortgage Loan Encumbrances


Nonsubstantive revisions to clarify when an encumbrance on wholly owned real estate held in an LLC is allowed for real estate (Schedule A) reporting.


2015-12 A-821

Update A-821 for 2012 Individual Annuity Mortality Table


Nonsubstantive revisions to include the 2012 Individual Annuity Table into Appendix A-821, effective Jan. 1, 2015.


*Please forward all comment letters to and


Conference Call Calendar

NAIC conference calls & interim meetings are available on the NAIC Conference Call Calendar. See NAIC's revised policy statement on open meetings.

Conference Call
Monday, June 1, 2015
3:00 p.m. Eastern / 2:00 p.m. Central / 1:00 p.m. Mountain / 12:00 noon Pacific / 11:00 a.m. Alaska / 9:00 a.m. Hawaii
Call duration: 1 hour

Conference Call
Wednesday, June 17, 2015
11:00 a.m. Eastern / 10:00 a.m. Central / 9:00 a.m. Mountain / 8:00 a.m. Pacific / 7:00 a.m. Alaska / 5:00 a.m. Hawaii
Call duration: 2 hours

  • Materials not yet available
Conference Call Calendar

Introduction to
Statutory Accounting Principles
Two-Week Online Self-Study Course

documents and resources
Relating SVO Unit Prices to the Fair Value Hierarchy
Structured Securities

Accounting Practices and Procedures Manual Updates

SSAP No. 43R flowchart
SAPWG Maintenance Agenda Submission Form (Form A)
See Policy Statement on SAPWG Maintenance Agenda Process for description and instruction.  After completion of the Form A, please send to for NAIC staff review.  NAIC staff will send a confirmation of receipt. In order for NAIC staff to place the Form A on the Agenda, the Form A must be received no later than the comment deadline.

Maintenance Agenda
Updated April 2015

SAP to Annual Statement Disclosure Checklist Updated for 2014 Annual Statements

Please note, in an effort to go green, the spreadsheets are spaced to view the entire width on a computer screen. At other percentages or if printing, some detail may be lost.

Policy Statements
See Appendix F – Policy Statements of the Accounting Practices and Procedures Manual for a complete listing.

Join the Statutory Accounting Electronic Updates Membership
Related NAIC Publications
Draft meeting minutes are available free for meeting attendees 10 business days after a national meeting concludes, using the User ID and Password supplied by the NAIC. Regulators may access minutes via StateNet.
Final committee minutes and Proceedings of the NAIC are available to non–attendees, after adoption at the next national meeting, for free in the PDF format through the NAIC Products & Services website.

Accounting Practices and Procedures Manual

Annual and Quarterly Statement Instructions

States' Prescribed Differences from NAIC Statutory Accounting Principles

Media queries should be directed to the NAIC Communications Division at 816-783-8909 or
Julie Gann
Senior Manager - Accounting and Reporting
Phone: 816-783-8966
Fax: 816-460-7821
Robin Marcotte
Senior Manager – Accounting and RBC
Phone: 816-783-8124
Fax: 816-460-7571
Josh Arpin
Statutory Accounting and Reinsurance Policy Advisor
Phone: 816-783-8481
Fax: 816-460-7654
Please see the current Committee List for a complete list of committee members.