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I didn't realize there was an option to adopt the principles-based bond definition early.
As it relates to the treatment of the preferred stock referred to below, and your statutory audited financial statements, I would recommend discussing that with your outside auditor.
As it relates to the treatments of that preferred stock in the blue book notes to the financial statements, you may want to discuss with the NAIC. I think it would be reasonable to be consistent with the treatment of that preferred stock throughout the blue book.
Regards
Lisa Mullen
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