The National Association of Insurance Commissioners (NAIC) adopted the following guidance:
- SSAP No. 86 to expand effective hedge relationships consistent with ASU 2017-12.
- Revisions to VM-20 and VM-21 to reflect all future hedging strategies.
- An actuarial guideline on modelling of complex assets in asset adequacy testing.
The NAIC exposed revisions to the following guidance:
- SSAP Nos. 19 and 73 to clarify that when a lease terminates early, the amortization of leasehold improvements would cease, and any remaining unamortized leasehold improvement balance would be expensed. There would be an exclusion for healthcare delivery assets.
- SSAP Nos. 26R and 43R that would define investments eligible to be reported as a bond on Schedule D-1. The exposure also includes a revised bond definition and related issue paper.
- SSAP No. 86 to adopt, with modification, US GAAP guidance regarding portfolio-layer method fair value hedging and fair value partial-term hedging.
- Nullification of INT 03-02 to eliminate inconsistent guidance with SSAP No. 25 for economic and non-economic related-party transactions.
- A memorandum on alternatives to add fixed income analytical risk measures to investments reported on Schedule D, Part One.
The NAIC discussed the following guidance:
- Progress of the Economic Scenario Generator (ESG) field test.
- Meeting highlights
- Accounting highlights
- Actuarial highlights
- Group capital calculation
- Risk-based capital
- Valuation of Securities Task Force
- Group Solvency
- Financial Stability Task Force
- Climate risk
- KPMG Financial Reporting View