Description

Updated: This item splits Schedule D, Part 1 into two sections. Schedule D, Part 1, Section 1 will be for Issuer Obligations that fall under SSAP No. 26 – Bonds and Schedule D, Part 1, Section 2 will cover Asset-Backed Securities (ABS) that fall under SSAP No. 43 – Asset-Backed Securities. Line numbers, column numbers and codes have been reconfigured. Additional items within the statement that reference the bond lines will also be modified. This item coincides with Ref #2019-21 (Bond Definition) adopted by the SAPWG on August 13, 2023.

Effective 1st Quarter 2025

References: 2023-06BWG Modified, AP&P Ref #2019-21, SSAP No. 26, SSAP No. 43

Updated: This item updates the code column and deletes the LEI column for the investment schedules listed. These modifications will make all of the investment schedules consistent with the changes to Schedule D and other investment schedules impacted by the adoption of 2023-06BWG Modified.

Effective 1st Quarter 2025

References: 2023-07BWG Modified

Updated: This item updates the Schedule BA categories per the SAPWG’s bond project and clarifies/streamlines reporting on Schedule BA. The focus is to categorize debt securities on Schedule BA that do not qualify as bonds under SSAP No. 26 – Bonds or SSAP No. 43 – Asset-Backed Securities and are captured in scope of SSAP No. 21 – Other Invested Assets. The Asset Valuation Reserve – Equity and Other Invested Asset Component instructions and blank will be modified to capture the new Schedule BA line numbers for the category updates. This item is associated with AP&P Ref #2023-16.

Effective 1st Quarter 2025

References: 2023-12BWG Modified, AP&P Ref #2023-16, SSAP No. 26, SSAP No. 43, SSAP No. 21

Updated: This item removes categories from Schedule DA, Part 1 and Schedule E, Part 2 that should be reported on Schedule BA. It adds clarifying instructions on what should be included in Other Short-Term and Other Cash Equivalent categories. In addition, the “affiliated short-term investment” line has been removed from the Five-Year Historical Data and Line 59 – Schedule DA Mortgages was removed from the AVR Default Component for 2025 Annual Reporting.

Effective 1st Quarter 2025

References: 2024-02BWG Modified

Updated: This item is associated with the SAPWG changes to SSAP No. 93 – Investments in Tax Credit Structures and SSAP No. 94 – State and Federal Tax Credits in Ref #2022-14 related to the Tax Credits Project. Guaranteed Federal Low Income Housing Tax Credits have been completely removed from Schedule BA and all other tax credit investment lines have been renamed and renumbered.

Effective 1st Quarter 2025

References: 2024-11BWG Modified, AP&P Ref #2022-14, SSAP No. 93, SSAP No. 94

Updated: This item updates the quarterly investment schedules for editorial items related to the Bond Project. It also updates the Quarterly Investment Schedule General Instructions for the changes that were adopted in the Annual Investment Schedule General Instructions (see 2023-06BWG Modified).

Effective 1st Quarter 2025

References: 2024-12BWG Modified

Updated: This item updates the annual investment schedules for editorial items related to the Bond Project that were discussed over multiple BWG calls.

Effective Annual 2025

References: 2024-13BWG Modified

Updated: This item updates the new issuer credit obligation line categories (Lines 0169999999 and 0179999999) from “Bonds Issued from SEC-Registered Business Development Corps, Closed End Funds & REITS” to “Bonds Issued by Funds Representing Operating Entities”. With this adopted change, SEC-registration is no longer a requirement for classification and instead, debt securities issued by funds should be assessed based on the reason for the issuance. The statutory accounting guidance is specific that debt securities issued for the primary purpose of raising debt capital are not permitted as issuer credit obligations.

Effective Annual 2025

References: 2024-14BWG Modified

Updated: This item removes the transitional reinsurance program and the risk corridors program from the ACA Receipts, Payments, Receivables and Payables table in the Supplemental Health Care Exhibit, Part 1 as both programs have expired.

Effective Annual 2025

References: 2024-15BWG

Updated: This item adds a line for Pet Insurance Plans to the Market Conduct Annual Statement (MCAS) Premium Exhibit.

Effective Annual 2025

References: 2024-17BWG

Updated: This item adds a footnote to Part 2 of the exhibit to report the amount of premium deficiency reserves that are included in different lines of Part 2. This should alleviate crosscheck errors when compared to the Accident and Health Policy Experience Exhibit for those filers that carry premium deficiency reserves and were historically required to provide an explanation for the difference.

Effective Annual 2025

References: 2024-18BWG

New: This item adds an electronic-only contact information field to the annual and quarterly Jurat page for the Guaranty Associate Assessment Contact. This will allow members to contact insurers about Guaranty Association operations (Class A Assessments) and for specific insolvencies (Class B Assessments).

Effective Annual 2025

References: 2024-20BWG Modified

Updated: This item updates the instructions for Schedule D, Parts 4 and 5 to add clarifying instructions on what should be included on the investment schedules. This item coincides with the SAPWG Ref #2024-16, adopted on February 25, 2025. The SAPWG adoption did not result in any SSAP revisions, but modifies the annual and quarterly statement instructions to clarify that held debt securities which are sold to a Special Purpose Vehicle (SPV) and then reacquired, reflecting the addition of derivative or other components, should be reported as a disposal and reacquisition in the investment schedules.

Effective Annual 2025

References: 2024-21BWG, AP&P Ref #2024-16

Updated: This item coincides with the SAPWG Ref #2024-28, adopted on February 25, 2025. The annual and quarterly statement instructions have been updated to incorporate the changes to SSAP No. 41 – Surplus Notes, adding clarification regarding what should be reported in the Surplus Notes and Capital Notes categories within Schedule BA. In addition, the Capital Notes guidance has been modified to clarify the admittance restrictions and NAIC designations and to update the impairment guidance.

Effective Annual 2025

References: 2024-22BWG, AP&P Ref #2024-28, SSAP No. 41

Updated: This item modifies the Life State Page and the Health Life Supplement (State Page) to capture Accident and Health data for Direct Premiums Earned by line of business in a new footnote (f) and Direct Losses Incurred, Settled and Unpaid in Columns 13 through 15 and 20 through 22. This information was inadvertently left out of the Life State Page when it was updated in 2023.

Effective Annual 2025

References: 2025-03BWG Modified

New: This item adds a new part to Schedule S (Part 8) to report reinsurance agreements with funds withheld and modified coinsurance. This item is associated with disclosure requirements adopted by the SAWPG (Ref #2024-07).

Effective Annual 2025

References: 2025-05BWG Modified, AP&P Ref #2024-07

Updated: This item modifies the Schedule P instructions for editorial revisions made by the Casualty Actuarial and Statistical (C) Task Force. The instructions were modified to add numbering to paragraphs, clean up old language, create better flow and create more “Prior Row” sections. There were no changes to the blanks related to this adoption.

Effective Annual 2025

References: 2025-07BWG

Updated: This item removes General Interrogatory #14 for Life/Fraternal companies that reported “total dividends paid to stockholders” and renumbers the remaining interrogatories. It coincides with SAPWG Ref #2025-07 which discusses that the interrogatory is not included across all annual statement blanks and is not a required disclosure in SSAP No. 72 – Surplus and Quasi-Reorganizations.

Effective Annual 2025

References: 2025-08BWG, AP&P Ref #2025-07, SSAP No. 72

Updated: This item adds a new general interrogatory (#6.8) for transfers and repurchase agreements and reverse repurchase transactions. It coincides with SAPWG Ref #2024-10.

Effective Annual 2025

References: 2025-09BWG, AP&P Ref #2024-10

Updated: This item removes the capital structure code column (37) from Schedule D, Part 1, Sections 1 and 2. Prior Schedule D company reporting for this information has been found to be misleading and inconsistent across legal entities for similar investments. The code was originally established for SVO use, but the information is no longer used from the Schedule D reporting and is obtained from the SVO through other data sources. This item coincides with SAPWG Ref #2025-04.

Effective Annual 2025

References: 2025-11BWG, AP&P Ref #2025-04

Updated: This item removes Line 8 – Unrated Multi-Class Securities Acquired by Conversion from the AVR Default Component – Basic Contribution. It relabels the line with “intentionally left blank” to prevent renumbering all lines in the AVR schedule and to be used in the future if there are other AVR updates. After review, the NAIC staff does not believe this historical line should be retained in the AVR schedule as there should be no securities reported within this line under current statutory accounting principles. See SAPWG Ref #2025-06 for additional information.

Effective Annual 2025

References: 2025-12BWG, AP&P Ref #2025-06

Updated: This item adds clarifying instructions as to where the Medicare Part D Prescription Payment Plan information should be reported on the Annual and Quarterly statements. Additional information can be found in the SAPWG INT 24-02 Medicare Prescription Payment Plan.

Effective Annual 2025

References: 2025-14BWG, INT 24-02

Updated: This item updates the annual and quarterly instructions for Note 8 – Derivatives and Schedule DB to clarify the terminology used for derivative financing premiums. It coincides with SAPWG Ref #2024-23.

Effective Annual 2025

References: 2025-15BWG Modified, AP&P Ref #2024-23

Updated: This item adds a cross-check to Column 2 – Direct Premiums Earned to ensure the amount ties with the new footnote F on the Life State Page. In addition, a cross-check has been added to Column 6 – Direct Incurred Claims to ensure the amount ties to Column 13 – Claims Incurred During Current Year on the Life State Page.

Effective Annual 2025

References: NAIC Editorial Revisions