Note 5.L – Restricted Assets is a quarterly required note effective Q1 2026
Update: Last week, the NAIC sent an email to the vendors letting us know the new columns that were added to Note 5.L(1) in the 2025 Annual Statement are NOT required on a quarterly basis
- For Life and Property filers, Columns 12, 13 and the Explanation column only need to be reported in the Annual Statement
- For Health filers, Columns 8, 9 and the Explanation column only need to be reported in the Annual Statement
Effective Q1 2026, Gain has made the following modifications to the Note 5.L(1) table:
- Updated the labels in the application for Columns 12 and 13 (L/P) and Columns 8 and 9 (H) as well as the Explanation Column to indicate the information should only be included in the Annual filing
- Changed the columns referenced above to be greyed out so data entry is not allowed
- Added XXX to the PDF for the columns referenced above
- Added RHP content that speaks to the Quarterly versus Annual treatment
- Removed the rollforward calculations originally drafted for the Explanation column
Subsequent Action: The NAIC will update the illustration in the 2027 quarterly instructions and change the underlying specification to XXX out the columns, which is effectively what Gain has implemented in Q1 2026.
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