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 December 18, 2014

All other agenda items have comment deadline of Jan. 16, 2015.

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. 69

Treatment of Non-Cash Items in the Cash Flow Statements

Exposed revisions clarify that items included in the cash flow statement should be limited to those that involve cash, and expands the SSAP No. 69 disclosure to include non-cash operating items.



SSAP No. 93

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

Nonsubstantive revisions to adopt with modification ASU 2014-01. Modifications prohibit the elective proportional amortization method and net reporting. Proposed revisions also update terminology.



SSAP No. 62R

Asbestos Reinsurance Reporting Exception

Nonsubstantive revisions change the amounts to be included in Schedule F related to an asbestos and environmental reinsurance reporting exception for retroactive counterparties, along with updates for the proposed reporting.



SSAP Nos. 1, 48, 68 and 97

ASU 2014-15: Presentation of Financial Statements – Going Concern

Nonsubstantive revisions to SSAP No. 1 to adopt ASU 2014-15: Presentation of Financial Statements – Going Concern and incorporate disclosure requirements on whether there is substantial doubt on the entity’s ability to continue as a going concern.

In addition, nonsubstantive revisions to SSAP Nos. 48, 68, and 97 to nonadmit investments whose audited financial statements include going concern notes from management.



SSAP Nos. 36, 37 and 40

ASU 2014-04 & ASU 2014-14 – Classification of Mortgage Loans Upon Foreclosure

Nonsubstantive revisions to SSAP No. 36, SSAP No. 37 and SSAP No. 40 to prescribe the accounting and reporting for foreclosed mortgage loans collateralized by real estate, and foreclosed mortgage loans guaranteed by a government sponsored program. The proposed revisions adopt with modification ASU 2014-04 and adopt ASU 2014-14.



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. 74

Protected Cell Reporting

Nonsubstantive revisions to SSAP No. 74 to update the reporting references from “aggregate write-in”  to designated lines for protected cells.



SSAP Nos. 92 and 102

Move INT 13-03 Guidance into Applicable SSAPs

Nonsubstantive revisions to SSAP No. 92 and SSAP No. 102 to incorporate the guidance from INT 13-03 related to surplus deferral.



Issue Paper No. 99

ASU 2014-13: Consolidation of Collateralized Financing Entity

Nonsubstantive revisions reject ASU 2014-13 as not applicable to statutory accounting.



SSAP No. 11

SSAP No. 11 Disclosures

Nonsubstantive revisions to SSAP No. 11 to delete the disclosures that pertain to defined benefit and defined contribution plans, with a reference to complete the disclosures in SSAP No. 92—Accounting for Postretirement Benefits Other Than Pensions if the reporting entity is providing special or contractual termination benefits.



SSAP No. 25

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

Nonsubstantive revisions to reject ASU 2013-06 as guidance requiring reasonable charges are detailed in Model Act #440. Revisions are proposed to incorporate references and disclosures for services provided.



SSAP No. 86

ASU 2014-16: Derivatives and Hedging (Host Contract)

Nonsubstantive revisions to reject ASU 2014-16 in SSAP No. 86.


*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.

Spring National Meeting
Phoenix, AZ
Statutory Accounting Principles (E) Working Group
Emerging Accounting Issues (E) Working Group
Saturday, March 28, 2015
9:00 – 11:30 a.m.
Phoenix Convention Center North―Room 132—Street Level

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
November 2014

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
Please see the current Committee List for a complete list of committee members.