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 June 19, 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. 92
SSAP No. 102

ASU 2015-04: Practical Expedient for the Measurement Date of An Employer’s Defined Benefit Obligation and Plan Assets


Nonsubstantive revisions to SSAP No. 92 and SSAP No. 102 to reject ASU 2015-04 and maintain the current accounting treatment.



SSAP No. 68

SSAP No. 68 – Paragraph 7 Clarification on Goodwill Limitation


Nonsubstantive revisions to SSAP No. 68 to provide a consistency clarification that the goodwill limitation test is completed at the individual reporting company level.



SSAP No. 16R

ASU 2015-05: Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement


Nonsubstantive revisions to SSAP No. 16R to clarify that entities that license internal-use computer software are required to follow the lease provisions outlined in SSAP No. 22.



IP No. 99

ASU 2015-06: Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions


Nonsubstantive revisions to reject ASU 2015-06 as not applicable to statutory accounting.




Policy Statement Revisions – Membership and Roles of SAPWG


Concept proposal recommends to disbanding the Emerging Accounting Issues (E) Working Group, with the Statutory Accounting Principles (E) Working Group incorporating a new process to issue interpretations and to increase its membership by two.



SSAP No. 1

Quarterly Reporting of Restricted Assets and Investment Schedules


Nonsubstantive revisions would require the disclosure of restricted assets in all interim and annual financial statements. These revisions would also require information on admitted and nonadmitted restricted assets, and require information on stock restrictions, which is currently provided in the annual statement general interrogatory.



Appendix E

Placement Revisions to the AP&P Manual


Nonsubstantive revisions incorporate a process to remove issue papers from the printed version of the Accounting Purposes and Procedures Manual and include on the Updates to the AP&P Manual website.



SSAP No. 86
Appendix D



Nonsubstantive exposure requests comments on the prior action on certain FAS 133 EITFs identified in Appendix D, but not referenced in SSAP No. 86.




Quarterly Reporting of Investment Schedules


Concept exposure requests comments on the consideration of collecting full investment schedule information (or limited details of all investments) in the quarterly financial statements.




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. 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. 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.


*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
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

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 June 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.