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:

2014 Charges

  • Maintain codified statutory accounting principles by providing periodic updates to the guidance that address new statutory issues and new U.S. generally accepted accounting principles (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
  • Adjust the Accounting Practices and Procedures Manual as needed to reflect the Valuation Manual requirements.—Essential
  • Receive periodic reports on changes to the Valuation Manual that require coordination with the Accounting Practices and Procedures Manual. Coordinate as needed, in accordance with the established maintenance process.—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
  • Coordinate with the Life Actuarial (A) Task Force on development of an accounting smoothing mechanism to address reserve volatility.—Essential

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

Exposure Drafts Outstanding
Statutory Accounting Principles Working Group
Last Updated Sep 2, 2014

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





IP No. 1XX

Accounting for the Risk-Sharing Provisions of the Affordable Care Act

This issue paper recommends accounting for three programs known as risk adjustment, reinsurance and risk corridors that take effect in 2014. This issue paper was drafted pursuant to the Working Group’s direction at the Summer National Meeting to permit greater admissibility for the risk adjustment and risk corridors receivables.



Issue Paper No. 149

Wholly-Owned Single Real Estate Property in an LLC

Moved to Substantive Active Listing and exposed Issue Paper via e-vote. Proposed guidance moves wholly-owned, single real estate held in an LLC, which meets specific conditions, into the scope of SSAP No. 40.


Discussion Topics and Prioritization

Investment Classification Review

Exposed proposed discussion topics and suggested prioritization for the Investment Classification Project.


SSAP No. 57

SSAP No. 57—Title Insurance Premium Classifications

Re-exposed nonsubstantive revisions to delete the paragraph 23.a. disclosure and exposed related revisions to paragraph 6.


Issue Paper No. 99

ASU 2014-10: Development Stage Entities

Nonsubstantive revisions reject ASU 2014-10 as not applicable to statutory accounting


SSAP No. 1  
SSAP No. 4

Restricted Assets Clarifications

Nonsubstantive revisions to clarify the guidance and disclosure requirements for restricted assets.


SSAP No. 104R

ASU 2014-12: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period

Nonsubstantive revisions adopt ASU 2014-12 with an effective date of Jan. 1, 2016, and early adoption permitted.

SSAP No. 56

Clarification in Separate Accounts Disclosures

Nonsubstantive revisions detail the disclosure categories for withdrawal characteristics.

Also includes proposed guidance referred to the Blanks (E) Working Group in order to ensure consistency between the SSAP guidance and Notes 32 and 34.


SSAP No. 55

Clarification of interpretations incorporated into SSAP No. 55

Nonsubstantive revisions clarify that claims-related losses for extra contractual obligations and bad faith lawsuits are to be included in losses. Also incorporates other clarifying changes related to prepaid adjustment expenses.


SSAP No. 101

Clarification of Income Tax Footnote

Nonsubstantive revisions clarify that the RBC authorized control level used in the annual realization threshold table for the DTA calculation is from the RBC ratio in process of being filed. For interim periods, shall use the authorized control level RBC filed as of the most recent calendar year. 


Appendix A

Updates to allow the 2012 Group Long-Term Disability Table

Nonsubstantive revisions incorporate changes to Appendix A-010 adopted by the Health Actuarial (B) Task Force with  a Jan. 1, 2016, effective date and early adoption permitted.


Appendix C

Health Actuarial Guideline XLVII

Nonsubstantive revisions add a new actuarial guideline and add reference to the Health Actuarial (B) Task Force to Appendix C of the NAIC AP&P Manual.


SSAP No. 69

Treatment of Non-Cash Items in the Cash-Flow Statements

Exposed substantive agenda item requesting information on the cash and non-cash transactions currently reflected in cash flow statements and preferences on what should be included.


SSAP No. 41

Holders of Surplus Notes

Exposed nonsubstantive agenda item requesting comments on proposals to clarify existing guidance for holders of surplus notes and whether to revise the thresholds used when applying a statement factor.


Issue Paper No. 99

Compilation of Rejected GAAP

Nonsubstantive proposal to consolidate all GAAP guidance identified as rejected in INT 99-00 into Issue Paper No. 99.


SSAP No. 54

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

Exposed nonsubstantive agenda item requests information on whether the reporting of balances for contracts subject to redetermination in the aggregate write-ins should be updated. In addition requested input on the expansion of Medicare guidance. Discussion expected Fall 2014 or the interim.


SSAP No. 62R

Asbestos and Pollution Reinsurance Reporting Exception

Exposed nonsubstantive revisions for two options; one with disclosure of unauthorized / uncollateralized reinsurers in Schedule F, Part 5 and one without. Comments on the preferred reporting option and language are requested by Sept. 16 to allow for interim discussion.

*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.

There are no call materials at this time.
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
August 2014

SAP to Annual Statement Disclosure Checklist Updated for 2013 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
Minutes for the four most recent NAIC National Meetings are available free for meeting attendees and members. Members may access minutes via StateNet. If you do not know your User ID or password, please contact the NAIC Help Desk.

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.