Exposure Drafts Outstanding
Statutory Accounting Principles (E) Working Group
Last Updated 8/08/18

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





SSAP No. 86

Hedge Effectiveness Documentation

Exposed revisions to incorporate hedge effectiveness documentation provisions reflected in ASU 2017-12, Derivatives and Hedging

(This agenda item has been bifurcated from agenda item 2017-33 to allow for immediate consideration of nonsubstantive changes pertaining to hedge documentation. Agenda item 2017-33 will continue to review potential substantive revisions as a result of ASU 2017-12.)



SSAP No. 22R

Issue Paper

ASU 2016-02, Leases

Exposed issue paper and substantively revised SSAP No. 22R to update the statutory accounting guidance for leases.



Issue Paper

Derivatives Hedging Variable Annuity Guarantees
-Detail of Revisions-

Exposed issue paper 15X and draft SSAP No. 108 to prescribe specific accounting and reporting guidance for derivatives that hedge interest rate risk of variable annuity guarantees.


SSAP No. 61R
SSAP No. 62R

Reinsurance Credit

SSAP No. 62R: Substantive revisions incorporate U.S. GAAP guidance. SSAP No. 61R: Nonsubstantive revisions propose disclosures and updates to the Appendix A-791 questions and answers.


SSAP No. 30R

Issue Paper

Common Stock Investment Classification Project

Exposed issue paper and substantively revised SSAP No. 30R. Key revisions improve the common stock definition and include closed-end funds and unit-investment trusts within scope.



SSAP No. 4

Regulatory Transactions - Referral from the Reinsurance (E) Task Force

Exposed revisions identify that items reported as invested assets acquired as part of "regulatory transactions," that meet the definition of an asset, shall only be admitted with approval of the domestic state insurance department as a permitted or prescribed practice.


SSAP No. 41R

Surplus Note Accounting - Referral from the Reinsurance (E) Task Force

Exposed revisions add guidance to prevent situations in which issued surplus notes can be linked to a reported asset or agreement and still qualify for surplus note reporting.


SSAP No. 21

Structured Settlements

Exposure proposes accounting and reporting guidance for structured settlement income streams acquired by insurers as investments.


SSAP No. 2


SSAP No. 43R

SSAP No. 86

Structured Notes

Exposure revises the guidance for structured notes when the reporting entity holder assumes a risk of principal loss based on an underlying component unrelated to the credit risk of the issuer. Under the proposed revisions, such notes would be considered derivatives, with an exception for mortgage-referenced securities, which would be captured in SSAP No. 43R.

2018-19 SSAP No. 43R Elimination of Modified Filing Exempt (MFE) - Referral from the Valuation of Securities (E) Task Force Exposure eliminates the MFE process in determining NAIC designation.
2018-20 SSAP No. 15
SSAP No. 25

Debt Forgiveness Between Related Parties

Exposed revisions reference existing guidance in other SSAPs for proper accounting treatment when there has been a forgiveness of an amount owed.
2018-21 SSAP No. 72 SSAP No. 72 Distributions Exposure incorporates accounting guidance for distributions that represent a return of capital.
2018-22 SSAP No. 37

Participation Agreement in a Mortgage Loan

Exposed revisions clarify that participation agreements are limited to a single mortgage loan agreement with a sole borrower.


SSAP No. 68

SSAP No. 68 Mergers

Exposed revisions clarify that statutory mergers include scenarios in which the stock ownership of an owned entity is cancelled, with the parent entity incorporating the assets and liabilities directly on their financial statements.


SSAP No. 86
SSAP No. 97
Appendix A-010

Editorial and Maintenance Update

Exposed editorial revisions.


SSAP No. 22

ASU 2018-01, Leases - Land Easement Practical Expedient for Transition to Topic 842

Exposed revisions rejecting ASU 2018-01.


SSAP No. 97

SCA Loss Tracking - Accounting Guidance

Exposed revisions clarify the requirements for when the reporting entity has a negative equity valuation in an SCA investment.


SSAP No. 48

SSAP No. 48 Entities' Loss Tracking

Exposure incorporates guidance and disclosures for when a reporting entity's share of losses exceeds its investment in the SSAP No. 48 entity.


SSAP No. 51
SSAP No. 52

Life and Annuity Liquidity Disclosures

Exposed revisions add life liquidity disclosures and expand the variable annuity liquidity disclosures for year-end 2019.


Appendix A-820

Consistency Revisions to A-820

Exposed revisions remove the phrase "good and sufficient reserve" to be consistent with the model #820.

Continuous Exposure


Issue Paper

ASU 2016-13, Credit Losses

Comment Letters Received

Exposed issue paper details concepts from ASU 2016-13 and identifies possible concepts for SAP consideration. This exposure specifically requests input on other elements that should be assessed as part of the new GAAP guidance.

Note - Due to different interpretations of the exposed guidance, NAIC staff is working with industry to clarify the intent. For this time, the issue paper will remain exposed, with comment letters previously received. It is expected that revised interested party comments will be provided subsequent to the discussion with NAIC staff.


Statutory Accounting Principles (E) Working Group
Summer National Meeting
Boston Massachusetts
Saturday, 8/04/2018
9:00 AM - 11:30 AM
(Open Session)
Ballroom A - Hynes Convention Center - 3rd Level

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.

INT 17-01: Extension of Ninety-Day Rule for the Impact of Hurricane Harvey, Hurricane Irma and Hurricane Maria
This interpretation temporarily extends the 90-day rule per paragraph 6 of SSAP No. 6 for policies impacted by Hurricane and Tropical Storm Harvey, Hurricane and Tropical Storm Irma, Hurricane and Tropical Storm Maria, and related flooding. This interpretation will be automatically nullified on February 16, 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 April 3, 2018

SAP to Annual Statement Disclosure Checklist Updated for 2017 Annual Statements
Updated 1/16/2018

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.

2018 Charges

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