Financial Reporting
Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
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Financial Reporting Resources
Presentation
Statement of Statutory Accounting Principles (SSAP) 109: Asset Liability Management Derivatives
The Life Investment Analysis Subcommittee provided an educational presentation to NAIC LATF explaining SSAP 109’s accounting treatment for asset-liability management derivatives, including macro…
Report
Model Construction and Development of RBC C-1 CLO Factors
In this comprehensive report, the C1 Subcommittee summarizes their work on collateralized loan obligations (CLO) modeling work completed over the past several years. The report begins with the…
Topics: Risk-Based Capital
Comment / Letter
Comments to SAPWG on Reinsurance Collateral for Ceded Business Valued under Principles-Based Reserving
The Risk Management and Financial Reporting Council’s Reinsurance Working Group sent comments to the NAIC’s Statutory Accounting Principles (E) Working Group (SAPWG) on proposed changes to SSAP…
Comment / Letter
Committee Comments to LATF on AG 55 Guidance
The American Academy of Actuaries’ Life Valuation Committee generally supports the NAIC’s proposed year-end 2026 AG 55 disclosure requirements for offshore reinsurance but recommends also…
Presentation
CLOs–Update on Asset Risk Structure
In this presentation at the NAIC Insurance Summit, C1 Subcommittee Chairperson Steve Smith provides an update on collateralized loan obligations (CLO) modeling work completed over the past several…
Comment / Letter
Possible Structure Exposure Comment Letter
Leadership from RBC-related Academy committees provided some priority considerations in response to an NAIC RBC Model Governance (EX) Task Force exposure on proposed RBC oversight structures.
Practice Note
Annuity Principle-Based Reserves Under VM 22 Practice Note
This practice note provides practical guidance for actuaries on implementing principle-based reserve valuation for non-variable annuity products under the VM-22 framework, as adopted by the NAIC. It…
Comment / Letter
Request for Comments on the Draft Buyers Guide on Deferred Annuities
The American Academy of Actuaries Annuity Products Subcommittee submitted comments on the NAIC Draft Buyer’s Guide for Deferred Annuities, recommending clarifications, consolidation of redundant…
Comment / Letter
LPC Comments to LATF Request to Review VM Spreads & Defaults
The Life Practice Council commented to the NAIC Life Actuarial (A) Task Force’s (LATF) request regarding VM prescribed spreads and default costs.
Practice Note