Statutory expenses derive from statutory accounting, a system of accounting used by the insurance industry in the United States. Most consider statutory accounting more conservative than accounting ...
On August 26, 2021, the Statutory Accounting Principles (E) Working Group (SAPWG) of the National Association of Insurance Commissioners (NAIC) directed a new “43R study group” to continue work on a ...
NAIC Provides Helpful Guidance on the Accounting Treatment for Insurance Company Investments in CRTs
At its Summer National Meeting in Chicago (August 12-15, 2024), the NAIC announced important guidance relating to the statutory accounting treatment of insurance companies’ investments in bank credit ...
Principles of accounting and auditing existed and have been observed for many years now, most especially in the more developed countries. The Philippines has gone a long way in this area and is ...
The NAIC’s Statutory Accounting Principles (E) Working Group adopted three interpretations related to COVID-19 last week. The statutory accounting exceptions allows insurance reporting entities to ...
Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Yarilet Perez is an experienced ...
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