- Financial Condition (E) Committee
- Accounting Practices and Procedures (E) Task Force
- Blanks (E) Working Group
- Statutory Accounting Principles (E) Working Group
- Capital Adequacy (E) Task Force
- Health Risk-Based Capital (E) Working Group
- Investment Risk-Based Capital (E) Working Group (disbanded)
- Life Risk-Based Capital (E) Working Group
- Longevity Risk (E/A) Subgroup
- Variable Annuities Capital and Reserve (E/A) Subgroup
- Property and Casualty Risk-Based Capital (E) Working Group
- Catastrophe Risk (E) Subgroup
- Examination Oversight (E) Task Force
- Electronic Workpaper (E) Working Group
- Financial Analysis Solvency Tools (E) Working Group
- Financial Examiners Coordination (E) Working Group
- Financial Examiners Handbook (E) Technical Group
- Information Technology (IT) Examination (E) Working Group
- Financial Analysis (E) Working Group
- Group Capital Calculation (E) Working Group
- Group Solvency Issues (E) Working Group
- Own Risk and Solvency Assessment (ORSA) Implementation (E) Subgroup
- Mortgage Guaranty Insurance (E) Working Group
- NAIC/American Institute of Certified Public Accountants (AICPA) (E) Working Group
- National Treatment and Coordination (E) Working Group
- Biographical Third-Party Review (E) Subgroup
- Receivership and Insolvency (E) Task Force
- Receivership Financial Analysis (E) Working Group
- Receivership Large Deductible Workers' Compensation (E) Working Group (disbanded)
- Receivership Law (E) Working Group
- Reinsurance (E) Task Force
- Qualified Jurisdiction (E) Working Group
- Reinsurance Financial Analysis (E) Working Group
- Restructuring Mechanisms (E) Working Group
- Restructuring Mechanisms (E) Subgroup
- Risk-Focused Surveillance (E) Working Group
- Risk Retention Group (E) Task Force
- Valuation Analysis (E) Working Group
- Valuation of Securities (E) Task Force
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 support staff listed on this Web page.
2021 Adopted Charges
The Statutory Accounting Principles (E) Working Group will:
- Maintain codified statutory accounting principles by providing periodic updates to the guidance that address new statutory issues and new generally accepted accounting principles (GAAP) pronouncements. Provide authoritative responses to questions of application and clarifications for existing statutory accounting principles. Report all actions and provide updates to the Accounting Practices and Procedures (E) Task Force.
- At the discretion of the Working Group chair, develop comments on exposed GAAP and International Financial Reporting Standards (IFRS) pronouncements affecting financial accounting and reporting. Any comments are subject to review and approval by the chairs of the Accounting Practices and Procedures (E) Task Force and the Financial Condition (E) Committee.
- Coordinate with the Life Actuarial (A) Task Force on changes to the Accounting Practices and Procedures Manual (AP&P Manual) related to the Valuation Manual VM-A, Requirements, and VM-C, Actuarial Guidelines, as well as other Valuation Manual requirements. This process will include the receipt of periodic reports on changes to the Valuation Manual on items that require coordination.
- Obtain, analyze and review information on permitted practices, prescribed practices or other accounting treatments suggesting that issues or trends occurring within the industry may compromise the consistency and uniformity of statutory accounting, including, but not limited to, activities conducted by insurers for which there is currently no statutory accounting guidance or where the states have prescribed statutory accounting that differs from the guidance issued by the NAIC. Use this information to consider possible changes to statutory accounting.
For revisions adopted by the Working Group, please refer to the Accounting Practices and Procedures Manual Updates Web page
Public Webex Meeting
Thursday, November 12, 2020
11:00 AM ET, 10:00 AM CT, 9:00 AM MT, 8:00 AM PT Expected Length of Call: 2 hrs
Interim meeting in lieu of the Fall National Meeting.
The purpose of this meeting is to consider action on previously exposed items and receive new items.
Introduction to Statutory Accounting Principles Two-Week Online Self-Study Course
Assistant Director - Solvency Policy
Senior Manager, Accounting Policy
Manager II - Accounting Policy
Senior SCA Valuation & Accounting Policy Advisor
Senior Accounting and Reinsurance Policy Advisor
Please see the current Committee List for a complete list of committee members.