Issues and Trends | May 2022

Insight

Insurance: SAPWG May 2022 call

Statutory accounting actions of the Statutory Accounting Principles Working Group on its May 2022 conference call.

Applicability

  • All insurance companies

Key impacts

The SAPWG adopted the following:

  • Revisions to SSAP Nos. 25 and 43R to clarify the identification and reporting of affiliated transactions and add disclosures in the Annual Statement investment schedules to identify investments held that involve related parties.
  • INT 22-01T to clarify that investments in Freddie Mac When-Issued K Deal Certificates are in the scope of SSAP No. 43R from the date of initial acquisition.
  • An agenda item to support the Blanks Working Group exposure that modifies the Annual Statement instructions for Schedule T, the State Page, and the Accident and Health Policy Experience Exhibit to clarify guidance for premium adjustments. 

Report contents:

  • Meeting highlights
  • Accounting highlights

Related content


Subscribe to our newsletter

Receive timely updates on accounting and financial reporting topics from KPMG.

Receive timely updates on accounting and financial reporting topics from KPMG.

ARO

Use our Accounting Research Online for financial reporting resources.

Use our Accounting Research Online for financial reporting resources.