NAIC SAPWG Accounting Update Matrix, Spring 2025 National Meeting

JLK Rosenberger brings you the latest updates on NAIC SSAP adoptions from the 2025 NAIC Spring National SAPWG meeting, held on March 24, 2025.

In response to these developments, we share our non-technical “What’s the Rub” insights and perspectives. Highlights include enhanced disclosure requirements for Restricted Asset reporting, the introduction of a new SSAP concept addressing the accounting treatment of debt instruments with embedded derivatives, and clarification on the placement of adopted issue papers within the statutory hierarchy of guidance.

JLK Rosenberger regularly attends the National Association of Insurance Commissioners (NAIC) meetings. Below, you will find a recap of items brought before the Statutory Accounting Principles Working Group (SAPWG) during the latest meeting.

In addition to the standard update matrix provided by the NAIC, we have included commentary on each item and have organized the various categories by color code into high, moderate, and low priority based on the potential impact on insurers. Highly narrow topic items, as far as impact, are generally categorized as low priority.

The Summer National Meeting is scheduled for August 10 – 13, 2025, in Minneapolis, Minnesota. Look for a newly updated matrix shortly after the meeting.