SSAP and Blank Updates to the Statutory Financial Statements – March 29, 2022 BWG Conference Call

The Blanks Working Group (“BWG”) held a conference call on March 29, 2022, in lieu of the 2022 Spring National Meeting, to review and consider the adoption of ten previously deferred or exposed positions. Of those ten items, seven were adopted. The other three items were either deferred and re-exposed to allow for further comments and discussion, withdrawn, or rejected.

Adopted Items

The items below were adopted with minor editorial updates and/or with additional comments (i.e. friendly amendments) from the BWG, regulators, or other interested parties. All adoptions are applicable to either the Life/Fraternal, Property, Health, and Title blanks, as specified by “L” for Life/Fraternal, “P” for Property, “H” for Health, and “T” for Title, or some combination thereof. Adopted items are effective for the 2022 Annual Statement, except where noted differently.

  • 2021-15BWG Modified: This item adds a new line (15) to Exhibit 7 in the Life/Fraternal Statement and the Health Statement (Life Supplement) to capture the amount of FHLB Funding Agreements reported in Columns 1 through 6 of the exhibit. The exposure is associated with Ref #2021-16 of the Statutory Accounting Principles Working Group (SAPWG). (L/H)
  • 2021-16BWG Modified: This item modifies the instructions for Note 9.C – Major components of income taxes incurred. Previously, the data captured element of the disclosure differed from the PDF. Specifically, the data captured element had a single “Other ” line for the DTA and DTL components where the instructions and illustration for 9.C indicate that additional lines should be added to the PDF to show the detail of any additional “Other” components over 5%. The PDF requirement for the additional lines is being removed. In addition, clarifying calculations have been added for subtotal and total lines where they previously had not been provided.

For Note 15 – Leases, the illustrations will be modified to add a “Thereafter” line to Note 15.A(2)a and Note 15.B(1)c that should be utilized to aggregate the amounts for remaining years after the five years specifically shown in the illustration. In addition, a formula to calculate the “Total” line has been added to the illustration for clarification. (L/P/H/T)

  • 2021-17BWG Modified: This item modifies the Analysis of Operations by Lines of Business in the Health Blank to include all of the health lines of business included in the Life/Fraternal Analysis of Operations by Lines of Business – Accident and Health. In addition, a new “Health Analysis of Operations by Lines of Business” supplement will be added for Life/Fraternal filers to capture revenue and expenses in the same detail as reported on the Health Analysis of Operations by Lines of Business. This adoption is effective for the 2023 Annual Statement. (L/H)
  • 2021-19BWG Modified: This item adds columns and lines to the Underwriting and Investment Exhibit (UIE), Parts 1, 2, 2A, 2B and 2D and to the Exhibit of Premiums, Enrollment and Utilization to bring the line of business reporting in sync with Life/Fraternal and Property. Lines and columns will also be added to the 2023 Quarterly Exhibit of Premiums, Enrollment and Utilization and UIE Analysis of Claims Unpaid. The instructions will be updated to reflect these changes. (H)
  • 2021-20BWG Modified: With this adoption, line items will be adjusted to include the specific lines of business reported on the Life/Fraternal Analysis of Operations by Lines of Business detail pages for Life (individual and group), annuities (individual and group) and A&H for Line 33Net gain from operations after dividends to policyholders, refunds to members and federal income taxes and before realized capital gains or (losses) of those pages. This adoption is effective for the 2023 Annual Statement. (L)
  • 2021-21BWG Modified: This item modifies the Investment Schedules General Instructions to exclude residual tranches or interests from being reported as bonds on Schedule D and adds lines to Schedule BA for the reporting of those investments. This modification is associated with the SAPWG Ref #2021-15. (L/P/H/T)
  • 2021-23BWG Modified: This item adds new reporting lines for residual tranches or interests to the AVR Equity and Other Invested Asset Component and renumbers the lines below. It coincides with the adoption of 2021-21BWG Modified. (L)

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