Investment Accounting and Reporting

Virtual Training Seminar
11 CPE Credits Available
Presenters: Colleen Gingrich/Brian Neader
September 15-16, 2020
9:00am Eastern
(8:00am Central)
September 22-23, 2020
9:00am Mountain
(8:00am Pacific)
Day 1

Day One

9:00am – 9:15am

Welcome and Introduction

9:15am – 10:00am

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.

10:00am – 11:30am

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 the P&P Manual including changes to the 2020 P&P Manual) and other investment issues currently under discussion by the NAIC Valuation of Securities Task Force.

11:30am – 11:45am

Break

11:45pm – 12:30pm

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 session 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 session include:

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

12:30pm – 1:30pm

Lunch

1:30pm – 2:45pm

Accounting and Reporting for Fixed Income and Equity Securities – Bonds, Preferred & Common Stocks

This Chapter provides a discussion and analysis of the SSAPs that provide the basis of accounting, recognition and reporting of fixed income and equity securities. This Chapter also provides instructions for completing Schedule D Parts 1, 2, 3, 4, 5, and other related supplemental investment schedules pertaining to fixed income and equity investments.

The SSAPs discussed in this Chapter include:

  • SSAP No. 26R – Bonds, Excluding Loan-Backed and Structured Securities
  • SSAP No. 30R – Unaffiliated Common Stock, Revised
  • SSAP No. 32 – Preferred Stock
  • SSAP No. 43R – Loan-Backed and Structured Securities, Revised

The Schedules covered in this Chapter include:

  • Schedule D – All Parts

2:45pm – 3:00pm

Break

3:00pm – 4:00pm

Accounting and Reporting for Investments in Subsidiary, Controlled and Affiliated (SCA) Entities

This Chapter provides a discussion and analysis of the SSAPs that provide the basis of accounting, recognition and reporting of affiliated investments. This Chapter also provides instructions for completing Schedule D Part 6 Sections 1 and 2 and Schedule Y.

The SSAPs discussed in this Chapter include:

  • SSAP No. 97 – Investments in Subsidiary, Controlled, and Affiliated Entities

The Schedules covered in this Chapter include:

  • Schedule D – Part 6 – Valuation of Subsidiary, Controlled, or Affiliated Companies
  • Schedule Y – Part 1 – Organization Chart – Information Concerning Activities of Insurer
  • Schedule Y – Part 1A – Detail of Insurance Holding Company System
  • Schedule Y – Part 2 – Summary of Insurer's Transactions with Any Affiliates
Day 2
Overview