Accounting Standard Updates
12 Days of SSAP (SSAP No. 26R, Bonds)
As the holidays approach, JLK Rosenberger is taking a new perspective on a holiday classic – the Twelve Days of Christmas. Rather than filling your head with turtle doves and gold rings, we are going to instead focus on the latest changes to SSAP and how they will impact your insurance company in 2018 and beyond.
On the 11th day of SSAP JLK Rosenberger told to me – Bonds.
SSAP No. 26R, Bonds (SSAP 26R), was revised to clarify inconsistencies between the annual statement instructions and SSAP 26R. The revisions require losses from the other-than-temporary impairment of investments to be recorded to asset valuation reserve (AVR) and interest maintenance reserve (IMR) in accordance with the annual statement instructions.