Exposure Drafts Outstanding
Statutory Accounting Principles (E) Working Group
Last Updated 4/11/19

Please address comment letters to Dale Bruggeman, Chair of the Statutory Accounting Principles (E) Working Group, and direct to Julie Gann, Robin Marcotte, Fatima Sediqzad and Jake Stultz.

Ref No. Issue Paper/ SSAP No./ Appendix Title Description
2018-32 SSAP No. 26R SSAP No. 26R – Prepayment Penalties Revisions provide guidance for determining prepayment penalties when consideration received is less than par. The revisions also clarify that if consideration received was less than the book/adjusted carrying value (BACV), the entire difference shall be reported as investment income.
2019-05 SSAP No. 103R Repurchase Disclosures Revisions reduce the disclosure requirements for repurchase and reverse repurchase transactions.
2019-07 SSAP No. 26R
SSAP No. 72
Bonds Received as Property Dividends or Capital Contributions Revisions direct the initial reported value for a bond received as a property dividend or as a capital contribution.
2016-02 SSAP No. 22R
Issue Paper
ASU 2016-02, Leases Exposed a substantively revised SSAP No. 22R and corresponding Issue Paper No. 16X—Leases to incorporate guidance from ASU 2016-02, Leases, but maintain the operating lease concept.
2017-28 Issue Paper Reinsurance Credit Exposed an issue paper to document for historical purposes the adopted revisions to SSAP No. 62R—Property and Casualty Reinsurance.
2018-03 SSAP No. 43R Reporting NAIC Designations as Weighted Averages Revisions require securities with differing NAIC designations by lot to be reported in overall aggregate at the lowest NAIC designation or with separate aggregations by NAIC designation.
2018-04 SSAP No. 26R VOSTF Bank Loan Referral Revisions clarify that a security in scope of another SSAP does not get reclassified as a "collateral loan" because it also is secured with collateral.
2018-22 SSAP No. 37 Participation Agreement in a Mortgage Loan Revisions clarify the structure of mortgage loans acquired through a participation agreement intended to be in scope and excluded “bundled” mortgage loans.
2018-26 SSAP No. 97 SCA Loss Tracking – Accounting Guidance Revisions update the existing reporting requirements for when a reporting entity has a negative equity value in an SCA investment and has provided a financial guarantee or commitment.
2018-38 SSAP No. 55 Prepayments to Service and Claims Adjusting Providers Revisions provide guidance clarifying that prepayments to providers of claims and adjusting services shall be recognized as nonadmitted prepaid expenses. In addition, guidance was exposed regarding flat fee bundled payments..
2019-03 SSAP No. 25
SSAP No. 26R
SSAP No. 32
SSAP No. 43R
SSAP No. 48
Affiliated Transactions Revisions clarify the principle application of SSAP No. 25, as well as an "affiliated" classification, when a transaction is in substance a related party transaction. The guidance includes situations when a transaction between related parties is conducted through a non-related intermediary.
2019-06 Preamble
SSAP No. 50
SSAP No. 51R
SSAP No. 52
SSAP No. 56
SSAP No. 71
SSAP No. 86
ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts Revisions update U.S. GAAP references and reject ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts for statutory accounting. With exposure, comments are requested on whether new disclosure reconciliations of liabilities should be captured.
2019-08 SSAP No. 51
SSAP No. 52
Reporting Deposit-Type Contracts Exposure requests comments on why guaranteed investment contracts, or other deposit-type contracts, are reported in Exhibit 5 – Aggregate Reserves for Life Contracts or Exhibit 6 – Aggregate Reserves for Accident and Health Contracts, instead of Exhibit 7 – Deposit-Type Contracts.
2019-09 SSAP No. 101
Q&A Edits
SSAP No. 101 – Q&A Updates – TCJA Revisions to the Implementation Q&A update the income tax guidance in response to the federal Tax Cuts and Jobs Act of 2017 (TCJA).
2019-10 SSAP No. 101 SSAP No. 101 – Q&A Updates – DTA/DTL Offset Revisions to the income tax Implementation Q&A clarify the application of the deferred tax admittance calculation, particularly with regards to offsetting deferred tax liabilities.
2019-11 SSAP No. 62R SSAP No. 62R – Reinsurance Credit Effective Date Revisions clarify the Jan. 1, 2019 effective date for previously adopted guidance applies to contracts in effect as of that date. If a change is required to prior application, it is as a change in accounting principle.
2019-12 SSAP No. 68
SSAP No. 97
ASU 2014-17, Business Combinations – Pushdown Accounting Revisions reject ASU 2014-17, Business Combinations – Pushdown Accounting for statutory accounting and prohibits pushdown accounting for subsidiary, controlled and affiliated (SCA) entities reported under audited U.S. GAAP.
2019-13 SSAP No. 97 Clarification of a Look-Through Approach Revisions clarify the guidance for look-through entities. These revisions specify that goodwill may be admitted only if its value has been supported by an audit report and that the look-through provision only applies to the downstream level directly below the noninsurance holding company. The exposure requests information on multiple-level shell holding companies for specific consideration.
2019-14 SSAP No. 68
SSAP No. 97
Attribution of Goodwill Revisions clarify that the acquisition of a holding company requires the purchase price and goodwill to be attributed to the downstream entities that the holding company directly owns.
2019-15EP SSAP No. 62R
SSAP No. 63
SSAP No. 86
SSAP No. 103R
Editorial Updates Exposed editorial revisions.
2019-16 Appendix D ASU 2015-08, Business Combinations – Pushdown Accounting – SEC Paragraphs Revisions reject ASU 2015-08, Business Combinations – Pushdown Accounting – Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 as not applicable for statutory accounting.
2019-17 Appendix D ASU 2019-02, Accounting for Costs of Films and License Agreements for Program Materials Revisions reject ASU 2019-02, Entertainment, Improvements to Accounting for Costs of Films and License Agreements for Program Materials (a consensus of the FASB Emerging Issues Task Force) as not applicable for statutory accounting.

2019 Spring National Meeting
Orlando, Florida
Saturday, April 6, 2019
(Open Session)
9:00 – 11:30 a.m. (Eastern)
JW Marriott—Palazzo Ballroom Salons D & E—Lobby Level

INT 18-04: Extension of Ninety-Day Rule for the Impact of Hurricane Florence and Hurricane Michael

This interpretation provides a limited-time optional extension of the ninety-day rule for uncollected premium balances, bills receivable for premiums and amounts due from agents and policyholders directly impacted by Hurricane Florence, Hurricane Michael, tropical storm Florence, tropical storm Michael, or the related flooding. This INT will automatically nullify on March 7, 2019.

INT 18-03: Additional Elements Under the Tax Cuts and Jobs Act

This interpretation provides accounting and reporting guidance for the Repatriation Transition Tax, Alternative Minimum Tax Credit and the Global Intangible Low-Taxed Income.

INT 18-01: Updated Tax Estimates Under the Tax Cuts and Jobs Act (Act)

This interpretation provides a limited-time, limited-scope exception to SSAP No. 9 to not require recognition of changes in reasonable estimates from the Act as Type I subsequent events after the issuance of the statutory financial statements. Additionally, the INT provides instruction for reporting changes in deferred income taxes in the financial statements. This interpretation will be automatically nullified on Dec. 31, 2018.

Subsidiary, Controlled or Affiliated (SCA)

Relating SVO Unit Prices to the Fair Value Hierarchy

Structured Securities

Accounting Practices and Procedures Manual

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 NAIC staff via email (see contact information below) for 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 November 27, 2018

SAP to Annual Statement Disclosure Checklist Updated for 2018 Annual Statements
Updated 1/31/2019

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.


Education & Training Events

Related NAIC Publications


Statutory Accounting Principles (E)
Working Group

The Statutory Accounting Principles (E) Working Group is responsible for developing and adopting substantive, nonsubstantive and interpretation revisions to the NAIC Accounting Practices and Procedures Manual (AP&P Manual). The AP&P Manual provides the basis for insurers to prepare financial statements for financial regulation purposes.

Substantive statutory accounting revisions introduce original or modified accounting principles. Substantive revisions can be reflected in an existing Statement of Statutory Accounting Principles (SSAP) or a new SSAP. Nonsubstantive statutory accounting revisions are characterized as language clarifications that do not modify the original intent of a SSAP. SSAPs are considered the highest authority (Level 1) in the statutory accounting hierarchy.

An interpretation to an existing SSAP may be developed to provide timely application, interpretation or clarification guidance. Revisions classified as an interpretation shall not amend, supersede or conflict with existing, effective SSAPs. Interpretations are considered the second highest authority (Level 2) in the statutory accounting hierarchy.

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.

2019 Charges

For revisions adopted by the Working Group, please refer to the Accounting Practices and Procedures Manual Updates Web page