Investment Accounting and Reporting Virtual Training Seminar

September 22-23, 2021

All Time Eastern Standard Time
Presenters: Colleen Gingrich/Brian Neader
Day 1
Day 1

Day One

10:30am – 10:45am

Welcome and Introduction

10:45am – 11:30am

Regulatory Framework for Invested Assets
This Chapter provides an overview of the regulation of insurance companies’ invested assets. This Chapter provides a discussion of the regulatory framework for invested assets, the NAIC Model Investment Law, an overview of state investment regulations, and an overview of the accounting and reporting rules for invested assets pursuant to Purposes and Procedures Manual of the NAIC Investment Analysis Office (P&P Manual) and NAIC Accounting Practices and Procedures Manual.

11:30am – 12:30pm

Overview of the NAIC’s Capital Markets & Investment Analysis Office
This Chapter provides an overview of the NAIC’s Capital Markets and Investment Analysis Office, its regulatory function, structure, and an overview of its processes impacting insurance companies invested assets including a discussion of NAIC designations and filing exemption requirements. This Chapter also discusses SVO filing terminology, the various forms and documents required for filing initial reports and annual updates with the SVO.

This Chapter also provides an overview of and changes to the 2021 P&P Manual and other investment issues currently under discussion by the NAIC Valuation of Securities Task Force.

12:30pm – 12:30pm

Break

12:45pm – 1:30pm

Accounting and Reporting for Real Estate
This Chapter provides a discussion and analysis of the SSAPs that provide the basis of accounting, recognition and reporting for real estate. This Chapter also provides instructions for completing Schedule A and other related supplemental investment schedules. The SSAPs discussed in this Chapter include:

  • SSAP No. 40R – Real Estate Investments

The Schedules covered in this session include:

  • Schedule A – Part 1 – Real Estate Owned
  • Schedule A – Part 2 – Real Estate Acquired
  • Schedule A – Part 3 – Real Estate Sold
  • Schedule A – Verification between Years

1:30pm – 2:15pm

Accounting and Reporting for Mortgage Loans
This Chapter provides a discussion and analysis of the SSAPs that provide basis of accounting, recognition and reporting of mortgage loans. This Chapter also provides instructions for completing Schedule B and other related supplemental investment schedules. The SSAPs discussed in this Chapter include:

  • SSAP No. 37 – Mortgage Loans

The SSAPs discussed in this Chapter include:

  • Schedule B – Part 1 – Mortgage Loans Owned
  • Schedule B – Part 2 – Mortgage Loans Acquired
  • Schedule B – Part 3 – Mortgage Loans Sold
  • Schedules B – Verification between Years

2:15pm – 2:45pm

Break

2:45pm – 3:30pm

Accounting and Reporting for Other Long-Term Invested Assets
This Chapter provides a discussion and analysis of the SSAPs that provide basis of accounting, recognition and reporting for other long-term invested assets including but not limited to joint ventures, partnerships, limited liability companies, surplus notes, and other miscellaneous long-term invested assets. This Chapter also provides instructions for completing Schedule BA and other related supplemental investment schedules. The SSAPs discussed in this Chapter include:

  • SSAP No. 21R – Other Admitted Assets
  • SSAP No. 41R – Surplus Notes
  • SSAP No. 48 – Joint Ventures, Partnerships, and Limited Liability Companies

The Schedules covered in this Chapter include:

  • Schedule BA – Part 1 – Other Long-Term Invested Assets Owned
  • Schedule BA – Part 2 – Other Long-Term Invested Assets Acquired
  • Schedule BA – Part 3 – Other Long-Term Invested Assets Sold
  • Schedules BA – Verification between Years

3:30pm – 4:15pm

Accounting and Reporting for Cash, Cash Equivalents, and Short-Term Investments
This Chapter discusses of the SSAPs that provide the basis of accounting, recognition and reporting of cash, cash equivalents, and short-term investments including CDARS. This Chapter provides instructions for completing Schedule D Part 1, Section 2, Schedules DA, and E. The SSAPs discussed in this Chapter include:

  • SSAP No. 2R – Cash, Drafts, and Short-Term Investments, Revised
  • SSAP No. 103R – Transfers and Servicing of Financial Assets and Extinguishments of Liabilities

The Schedules covered in this Chapter include:

  • Schedule DA – Short-Term Investments
  • Schedule E – Part 1 – Cash
  • Schedule E – Part 2 – Cash Equivalents
  • Schedule E – Part 3 – Special Deposits
Day 2